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Construct a scatter plot with this data. Do you observe a relationship between both variables? Use Excel to fit a linear regression line to the
Construct a scatter plot with this data. Do you observe a relationship between both variables? Use Excel to fit a linear regression line to the data. What is the fitted regression model? (Hint: You can follow the steps outlined on page 497 of the textbook.) What is the slope? What does the slope tell us?Is the slope significant? . What is the intercept? Is it meaningful? What is the value of the regression coefficient,r? What is the value of the coefficient of determination, r 2? What does r^2 tell us? Use the model to predict sales and the business spends $950,000 in advertisement. Does the model underestimate or overestimates ales
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