1. Draw the regression line and evaluate it using the criteria of economic plausibility, goodness of...

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1. Draw the regression line and evaluate it using the criteria of economic plausibility, goodness of fit, and slope of the regression line. 2. Use the high-low method to compute the function relating promotional costs and revenues. 3. Using (a) the regression equation and (b) the high-low equation, what is the increase in revenues for each $10,000 spent on promotional within the relevant range? Which method should Amy use to predict the effect of promotional costs on revenues? Explain briefly. 1. Draw the regression line and evaluate it using the criteria of economic plausibility, goodness of fit, and slope of the regression line. 2. Use the high-low method to compute the function relating promotional costs and revenues. 3. Using (a) the regression equation and (b) the high-low equation, what is the increase in revenues for each $10,000 spent on promotional within the relevant range? Which method should Amy use to predict the effect of promotional costs on revenues? Explain briefly.