SOLUTION: A study was made by a retail merchant to determine the relation between weekly advertising expenditures and sales. The following data were recorded: Advertising Costs, $ 40 20 2

Question 1174284: A study was made by a retail merchant to determine the relation between weekly advertising expenditures and sales. The following data were recorded:
Advertising Costs, $ 40 20 25 20 30 50 40 20 50 40 25 50
Sales, $ 385 400 395 365 475 440 490 420 560 525 480 510
a) Draw a scatter diagram for the above data.
b) Calculate the coefficient of correlation, r
c) Find the linear regression equation (least-squares equation of the line) to predict
weekly sales from advertising expenditures. Add your line-of-best-fit to your scatter
diagram.
d) Predict the weekly sales when advertising costs are $32.
Answer by ewatrrr(24785) (Show Source): You can put this solution on YOUR website!


Hi
FYI: Below is an example of using an Excel Spreadsheet to enter data:
Making a Scatter Plot and using the appropriate trend line.

x	y
40	385            
20	400
25	395
20	365
30	475
50	440
40	490
20	420
50	560
40	525
25	480
50	510
    .
Wish You the Best in your Studies.

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