Question

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

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?

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:

#### Earn Coins

Coins can be redeemed for fabulous gifts.