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
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Advertising Costs, $ 40 20 2
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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):
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.
.
Wish You the Best in your Studies.
