Question

A manager at a retail store analyzes the relationship between advertising (in $100's) and sales (in...

A manager at a retail store analyzes the relationship between advertising (in $100's) and sales (in $1000's) by reviewing the store's data for the previous six months. (please show step by step work)

Advertising ($100's) Sales ($1,000's)
20 15
25 18
30 20
22 16
27 19
26 20

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) Calculate and interpret the covariance between advertising and sales.

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
A manager of a local coffee shop analyzes the relationship between advertising and sales by reviewing...
A manager of a local coffee shop analyzes the relationship between advertising and sales by reviewing the store’s data for the previous six months. Advertising (in $100s) Sales (in $1,000s) 20 15 25 18 30 20 22 16 27 19 26 20 a. Calculate the mean of advertising and the mean of sales. (Round your answers to 2 decimal places.)              Mean   Advertising      Sales    b. Calculate the standard deviation of advertising and the standard deviation of sales. (Round your...
A manager of a local coffee shop analyzes the relationship between advertising and sales by reviewing...
A manager of a local coffee shop analyzes the relationship between advertising and sales by reviewing the store’s data for the previous six months. Advertising (in $100s) Sales (in $1,000s) 20 15 25 18 30 20 22 16 27 19 26 20 a. Calculate the mean of advertising and the mean of sales. (Round your answers to 2 decimal places.)              Mean   Advertising      Sales    b. Calculate the standard deviation of advertising and the standard deviation of sales. (Round your...
A retail store estimates that weekly sales s and weekly advertising costs x​ (both in​ dollars)...
A retail store estimates that weekly sales s and weekly advertising costs x​ (both in​ dollars) are related by s= 50,000 - 30,000e^(-0.0005x) The current weekly advertising costs are ​$2,000​, and these costs are increasing at a rate of $400 per week. Find the current rate of change of sales.
Attempting to analyze the relationship between advertising and sales, the owner of a furniture store recorded...
Attempting to analyze the relationship between advertising and sales, the owner of a furniture store recorded the monthly advertising budget X (in $thousands) and the sales Y (in $millions) for a sample of 12 month. The data are listed here. Advertising 23 46 60 54 28 33 25 31 36 88 90 99 Sales 9.6 11.3 12.8 9.8 8.9 12.5 12 11.4 12.6 13.7 14.4 15.9 Estimate with 90% confidence the mean sales when advertising budget is 90000. (You may...
A local grocery store wants to predict the monthly sales in dollars. The manager believes that...
A local grocery store wants to predict the monthly sales in dollars. The manager believes that the amount of newspaper advertising significantly affects the store sales. The manager randomly selects 10 months of data consisting of monthly grocery store sales (in thousands of dollars) and advertising expenditures (in thousands of dollars). See the following data: Is there a linear relationship between sales and the advertising expenditures? if yes, is it positive or negative? is this relationship strong? use the correlation...
A sales manager used linear regression to find the positive linear relationship between advertising expenditures and...
A sales manager used linear regression to find the positive linear relationship between advertising expenditures and sales. the equation was calculated from the following data from 7 randomly selected advertising campaigns: Advertising Expenditures - $8,000 / $22,000 / $15,000 / $39,000 / $32,000 / $12,000 / $45,000 Sales - $95,000 / $190,000 / $125,000 / $ 225,000 / $285,000 / $150,000 / $350,000 If the sales manager used regression equation to predict the amount of sales that he can expect...
A sales manager used linear regression to find the positive linear relationship between advertising expenditures and...
A sales manager used linear regression to find the positive linear relationship between advertising expenditures and sales. the equation was calculated from the following data from 7 randomly selected advertising campaigns: Advertising Expenditures - $8,000 / $22,000 / $15,000   / $39,000 / $32,000 / $12,000 / $45,000 Sales - $95,000 / $190,000 / $125,000 / $ 225,000 / $285,000 / $150,000 / $350,000 If the sales manager used the regression equation to predict the amount of sales that he can...
A sales manager for an advertising agency believes there is a relationship between the number of...
A sales manager for an advertising agency believes there is a relationship between the number of contacts that a salesperson makes and the amount of sales dollars earned. A regression analysis shows the following results: Coefficients Standard Error t Stat p value Intercept −12.201 6.560 −1.860 0.100 Number of contacts 2.195 0.176 12.505 0.000 ANOVA df SS MS F Significance F Regression 1.00 13555.42 13555.42 156.38 0.00 Residual 8.00 693.48 86.68 Total 9.00 14248.90 Additional information needed to perform the...
5. A sales manager used linear regression to find the positive linear relationship between advertising expenditures...
5. A sales manager used linear regression to find the positive linear relationship between advertising expenditures and sales. the equation was calculated from the following data from 7 randomly selected advertising campaigns: Advertising Expenditures - $8,000 / $22,000 / $15,000 / $39,000 / $32,000 / $12,000 / $45,000 Sales - $95,000 / $190,000 / $125,000 / $ 225,000 / $285,000 / $150,000 / $350,000 If the sales manager used regression equation to predict the amount of sales that he can...
As part of the quarterly reviews, the manager of a retail store analyzes the quality of...
As part of the quarterly reviews, the manager of a retail store analyzes the quality of customer service based on the periodic customer satisfaction ratings (on a scale of 1 to 10 with 1 = Poor and 10 = Excellent). To understand the level of service quality, which includes the waiting times of the customers in the checkout section, he collected data on 100 customers who visited the store; see the attached Excel file: ServiceQuality. Using Data Mining > Cluster,...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT