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Attempting to analyze the relationship between advertising and sales, the owner of a fashion shop recorded the monthly advertising budget ($ thousands) and the sales
Attempting to analyze the relationship between advertising and sales, the owner of a fashion shop recorded the monthly advertising budget ($ thousands) and the sales ($ millions) for a sample of 12 months. The data are listed here: Advertising Sales 34 15 33 15 27 18 26 10 35 20 23 18 25 15 30 20 22 21 37 19 32 13 20 13 The coefficient of determination for this data is and the regression equation is: . For part (a), express your answer in percent form (i.e. 3.00% instead of 0.03) and round to at least 2 decimal places. (a) What percent of the variation in sales CANNOT be explained due to the other factors? For parts (b) and (c), round to at least 4 decimal places. (b) Calculate the correlation coefficient (c) What is the slope of the equation? For part (d), round to at least 1 decimal place. (d) What would be the best predicted sales for the advertising budget of $30,000 (use 30)? ($ millions)
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