Question

Consider the following sample data for the relationship between advertising budget and sales for Product A:

Observation | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |

Advertising($) | 50000 | 60000 | 60000 | 70000 | 70000 | 80000 | 90000 | 90000 | 100000 | 110000 |

Sales ($) | 299001 | 371000 | 364000 | 430000 | 440000 | 485000 | 535000 | 546000 | 595000 | 675000 |

Please round your answer to the nearest hundredth. Note that the
correct answer will be evaluated based on the full-precision result
you would obtain using Excel.What is the slope of the
"least-squares" best-fit regression line?

Answer #1

Independent variable (x): Advertising

Dependent variable (y): Sales

Following is the output of regression analysis generated by excel:

SUMMARY OUTPUT | ||||||

Regression Statistics | ||||||

Multiple R | 0.997458987 | |||||

R Square | 0.994924431 | |||||

Adjusted R Square | 0.994289985 | |||||

Standard Error | 8743.381685 | |||||

Observations | 10 | |||||

ANOVA | ||||||

df | SS | MS | F | Significance F | ||

Regression | 1 | 1.19882E+11 | 1.19882E+11 | 1568.178086 | 1.81836E-10 | |

Residual | 8 | 611573786.4 | 76446723.3 | |||

Total | 9 | 1.20494E+11 | ||||

Coefficients | Standard Error | t Stat | P-value | Lower 95% | Upper 95% | |

Intercept | 8090.035714 | 12085.85315 | 0.669380607 | 0.52209837 | -19779.9916 | 35960.06303 |

Advertising($), X | 5.973205952 | 0.150837664 | 39.60022836 | 1.81836E-10 | 5.625373675 | 6.32103823 |

The slope is:

Consider the following sample data for the relationship between
advertising budget and sales for Product A:
Observation
1
2
3
4
5
6
7
8
9
10
Advertising ($)
40000
50000
50000
60000
70000
70000
80000
80000
90000
100000
Sales ($)
239000
315000
311000
363000
432000
493000
438000
493000
535000
603000
What is the slope of the "least-squares" best-fit regression
line? Please round your answer to the nearest hundredth. Note that
the correct answer will be evaluated based on the...

Consider the following sample data for the relationship between
advertising budget and sales for Product A:
Observation
1
2
3
4
5
6
7
8
9
10
Advertising ($)
100,000
110,000
110,000
120,000
130,000
130,000
140,000
150,000
150,000
160,000
Sales ($)
603,000
676,000
655,000
748,000
796,000
785,000
858,000
891,000
935,000
980,000
What is the slope of the "least-squares" best-fit
regression line?
Please round your answer to the nearest hundredth.
Note that the correct answer will be evaluated based on the...

Regression
1)
Consider the following sample data for the relationship between
advertising budget and sales for Product A:
Observation
1
2
3
4
5
6
7
8
9
10
Advertising ($)
30,000
30,000
40,000
50,000
50,000
50,000
60,000
70,000
80,000
80,000
Sales ($)
179,000
183,000
253,000
308,000
301,000
308,000
376,000
418,000
486,000
499,000
What is the slope of the "least-squares" best-fit
regression line?
Please round your answer to the nearest hundredth.
2)
Consider the following sample data for the relationship...

Consider the following sample data for the relationship between
advertising budget and sales for Product A:
Observation
1
2
3
4
5
6
7
8
9
10
Advertising ($)
70,000
80,000
80,000
90,000
100,000
100,000
110,000
110,000
120,000
130,000
Sales ($)
432,000
478,000
484,000
552,000
605,000
594,000
688,000
674,000
713,000
784,000
What is the slope of the "least-squares" best-fit
regression line?
Please round your answer to the nearest hundredth.

Consider the following sample data for the relationship between
advertising budget and sales for Product A:
Observation
1
2
3
4
5
6
7
8
9
10
Advertising ($)
40,000
40,000
50,000
60,000
60,000
60,000
70,000
80,000
80,000
90,000
Sales ($)
239,000
248,000
316,000
365,000
358,000
375,000
432,000
476,000
486,000
552,000
What is the predicted sales quantity for an advertising
budget of $64,000?
Please round your answer to the nearest integer.
Note that the correct answer will be evaluated based...

Consider the following sample data for the relationship between
advertising budget and sales for Product A:
Observation
1
2
3
4
5
6
7
8
9
10
Advertising ($)
70,000
80,000
80,000
90,000
100,000
100,000
110,000
110,000
120,000
130,000
Sales ($)
432,000
478,000
484,000
552,000
605,000
594,000
688,000
674,000
713,000
784,000
What is the R2 coefficient of determination
value for the relationship between advertising and
sales?
Please round your answer to the nearest hundredth.

Consider the following sample data for the relationship between
advertising budget and sales for Product A:
Observation
1
2
3
4
5
6
7
8
9
10
Advertising ($)
40,000
50,000
50,000
60,000
70,000
70,000
80,000
80,000
90,000
100,000
Sales ($)
240,000
308,000
315,000
358,000
425,000
440,000
499,000
494,000
536,000
604,000
What is the predicted sales quantity for an advertising
budget of $68,000?
Please round your answer to the nearest integer.

Consider the following sample data for the relationship between
advertising budget and sales for Product A:
Observation
1
2
3
4
5
6
7
8
9
10
Advertising ($)
50,000
60,000
60,000
70,000
70,000
80,000
90,000
90,000
100,000
110,000
Sales ($)
299,001
371,000
364,000
430,000
440,000
485,000
535,000
546,000
595,000
675,000
What is the predicted sales quantity for an advertising
budget of $76,000?
Please round your answer to the nearest integer.

Consider the following sample data for the relationship between
advertising budget and sales for Product A:
Observation
1
2
3
4
5
6
7
8
9
10
Advertising ($)
30,000
30,000
40,000
50,000
50,000
50,000
60,000
70,000
80,000
80,000
Sales ($)
179,000
183,000
253,000
308,000
301,000
308,000
376,000
418,000
486,000
499,000
What is the predicted sales quantity for an advertising
budget of $57,000?
Please round your answer to the nearest integer.

A company is investigating the relationship between sales and
advertising revenue. Data has been collected on these two variables
and is shown below (all figures are in £000s):
month
jan
feb
mar
april
may
june
july
aug
sept
oct
nov
dec
sales
60
60
58
45
41
33
31
25
24
23
23
23
adv
6.0
6.0
6.0
5.8
4.5
4.1
3.3
3.1
2.5
2.4
2.3
2.3
(a) Plot a scatter diagram of the data given in the table above....

ADVERTISEMENT

Get Answers For Free

Most questions answered within 1 hours.

ADVERTISEMENT

asked 13 minutes ago

asked 25 minutes ago

asked 26 minutes ago

asked 34 minutes ago

asked 40 minutes ago

asked 40 minutes ago

asked 40 minutes ago

asked 46 minutes ago

asked 46 minutes ago

asked 1 hour ago

asked 2 hours ago

asked 2 hours ago