Question
A manager of a local retail store analyzes the relationship between advertising and sales by reviewing...
A manager of a local retail store analyzes the relationship between advertising and sales by reviewing the store’s data for the previous six months.
| Advertising | Sales |
| (in $100s) | (in $1,000s) |
| 26 | 18 |
| 23 | 18 |
| 23 | 15 |
| 25 | 15 |
| 32 | 24 |
| 29 | 22 |
a. Calculate the mean of advertising and the mean of sales.
b. Calculate the standard deviation of advertising and the standard deviation of sales.
c-1. Calculate the covariance between advertising and sales.
c-2. Interpret the covariance between advertising and sales.
-
Negative correlation
-
Positive correlation
-
No correlation
d. Calculate the correlation coefficient between advertising and sales.
Homework Answers
Answer #1
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