Question
All MC use this image A random sample of independently owned small businesses in Allegheny County was taken. Each was asked to anonymously report the
-
All MC use this image
-
A random sample of independently owned small businesses in Allegheny County was taken. Each was asked to anonymously report the amount of money (in dollars) spent on advertising during 2016 as well as the total amount in sales. The line on the plot is the least squares regression line. What are the hypotheses for determining whether or not advertising cost is a significant predictor of sales?
5 points
QUESTION 33
-
A random sample of independently owned small businesses in Allegheny County was taken. Each was asked to anonymously report the amount of money (in dollars) spent on advertising during 2016 as well as the total amount in sales. The line on the plot is the least squares regression line. Overall, about how far off are the predictions for this regression line?
A. $6.35
B. $2,188.93
C. $25,203.40
D. $20.38
E. $26,403
5 points
QUESTION 34
-
A random sample of independently owned small businesses in Allegheny County was taken. Each was asked to anonymously report the amount of money (in dollars) spent on advertising during 2016 as well as the total amount in sales. The line on the plot is the least squares regression line. What is the residual for a small business that spent $3,500 on advertising costs and actually made $65,000 in sales?
A. + $4,148.07
B. - $4,148.07
5 points
QUESTION 35
-
A random sample of independently owned small businesses in Allegheny County was taken. Each was asked to anonymously report the amount of money (in dollars) spent on advertising during 2016 as well as the total amount in sales. The line on the plot is the least squares regression line. What is our conclusion about the relationship between advertising costs and sales? Use a 5% level of significance to make your decision.
A. There is strong statistical evidence of a negative, linear relationship between advertising costs and sales.
B. There is strong statistical evidence of a positive, linear relationship between advertising costs and sales.
C. There is no statistical evidence of a linear relationship between advertising costs and sales.
5 points
QUESTION 36
-
A random sample of 20 independently owned small businesses in Allegheny County was taken. Each was asked to anonymously report the amount of money (in dollars) spent on advertising during 2016 as well as the total amount in sales. The line on the plot is the least squares regression line. What is the 95% confidence interval for the slope?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started