Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

An advertising firm wishes to demonstrate to its clients the effectiveness of the advertising campaigns it has conducted. The following bivariate data on twelve Espanol

image text in transcribed
An advertising firm wishes to demonstrate to its clients the effectiveness of the advertising campaigns it has conducted. The following bivariate data on twelve Espanol recent campaigns, including the cost of each campaign (denoted by x, in millions of dollars) and the resulting percentage increase in sales (denoted by y) following the campaign, were presented by the firm. A scatter plot of the data is shown in Figure 1. Also given is the product of the campaign cost and the percentage increase in sales for each of the twelve campaigns. (These products, written in the column labelled "xy", may aid in calculations.) Campaign Increase in cost, x sales, y xy (in millions of dollars) (percent) 2.45 6.59 16.1455 7.2- 3.58 6.91 24.7378 7- Y X X 3.78 6.77 25.5906 6.8- X Y 1.56 6.60 10.296 6.6- X (percent) Increase in sales Y X 2.12 6.81 14.4372 6.4- X 3.21 6.47 20.7687 6.2_ X 3.77 6.92 26.0884 2.00 6.54 13.08 1'5 2 2.5 3 3.5 3.07 6.89 21.1523 Campaign cost 3.09 6.54 20.2086 (in millions of dollars) Figure 1 1.10 6.40 7.04 1.64 6.15 10.086 Send data to calculator What is the sample correlation coefficient for these data? Carry your intermediate computations to at least four decimal places and round your answer to at least three decimal places. (If necessary, consult a list of formulas.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Advanced Financial Accounting

Authors: Richard E. Baker, Valdean C. Lembke, Thomas E. King

5th Edition

0072444126, 978-0072444124

Students also viewed these Mathematics questions

Question

i need correct answrrs 3 0 2 . .

Answered: 1 week ago