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 ($) | 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 full-precision result you would obtain using Excel.

Answer #1

The excel output for regression equation is:

Hence,

Slope of the least square fit = Coefficient of Advertisement =
**6.20**

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.

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 ($)
40000
50000
50000
60000
70000
70000
80000
80000
90000
100000
Sales ($)
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($)
50000
60000
60000
70000
70000
80000
90000
90000
100000
110000
Sales ($)
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...

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 ($)
40,000
40,000
50,000
60,000
60,000
60,000
70,000
80,000
80,000
90,000
Sales ($)
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 ($)
50,000
60,000
60,000
70,000
70,000
80,000
90,000
90,000
100,000
110,000
Sales ($)
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 ($)
40,000
50,000
50,000
60,000
70,000
70,000
80,000
80,000
90,000
100,000
Sales ($)
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 ($)
30,000
30,000
40,000
50,000
50,000
50,000
60,000
70,000
80,000
80,000
Sales ($)
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.

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