Question
Consider the following sample data for the relationship between advertising budget and sales for Product A: Observation 1 2 3 4 5 6 7 8
Consider the following sample data for the relationship between advertising budget and sales for Product A:
Observation 1 2 3 4 5 6 7 8 9 10
Advertising ($) 40,000 50,000 50,000 60,000 70,000 70,000 80,000 80,000 90,000 100,000
Sales ($) 240,000 308,000 315,000 358,000 425,000 440,000 499,000 494,000 536,000 604,000
What is the slope of the "least-squares" best-fit regression line?
Please round your answer to the nearest hundredth.
Note that the correct answer will be evaluated based on the full-precision result you would obtain using Excel.
Consider the following sample data for the relationship between advertising budget and sales for Product A:
Observation 1 2 3 4 5 6 7 8 9 10
Advertising ($) 80,000 80,000 90,000 100,000 100,000 110,000 120,000 120,000 130,000 140,000
Sales ($) 499,000 477,000 546,000 614,000 623,000 653,000 747,000 714,000 785,000 858,000
What is the predicted sales quantity for an advertising budget of $108,000?
Please round your answer to the nearest integer.
Note that the correct answer will be evaluated based on the full-precision result you would obtain using Excel.
Consider the following sample data for the relationship between advertising budget and sales for Product A:
Observation 1 2 3 4 5 6 7 8 9 10
Advertising ($) 30,000 30,000 40,000 50,000 50,000 50,000 60,000 70,000 80,000 80,000
Sales ($) 179,000 183,000 253,000 308,000 301,000 308,000 376,000 418,000 486,000 499,000
What is the correlation value for the relationship between advertising and sales?
Please round your answer to the nearest hundredth.
Note that the correct answer will be evaluated based on the full-precision result you would obtain using Excel.
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