Below is the scatterplot, regression line, and corresponding statistics for Advertising Expenditures (in thousands of dollars) and Sales (in thousands of dollars) from a selection of 8 months. Advertising -vs- Sales Advertising -v5- Sales: x = Advertising Expenses (in thousands of dollars) 450 y = Sales (in thousands of dollars) 400 correlation coefficient: r = 0.963 350 300 regression equation: = 13.68x + 100.8 Sales (in thousand dollars) 250 200 sample size: n = 8 150 100 sample means: x = 14.5 y = 300 50 5 10 15 20 25 30 Advertising Expenses (in thousand dollars) Answer the following questions regarding the relationship between price (x) and demand (y). (a) Is there a significant linear correlation between these variables? O Yes O No (b) What percentage of the variation in sales can be explained by the linear relation to advertising? Enter your answer as a percentage with one decimal place. % (c) How much in monthly sales would you expect in a month that you spend 22 thousand dollars on advertising? Round your answer to the one decimal place. thousand dollars