Dawn Gostkowski, sales manager of Becker Arenas, is checking to see if there is any relationship between promotional costs and She estimates the following regression equation: ticket revenues at the sports stadium. She obtains the following data for the past 9 months: Ticket revenues = $37,541 + ($2.50 x Promotional costs) E: (Click the icon to view the data.) Read the requirements C. Requirement 1. Draw the regression line and evaluate it using the criteria of economic plausibility, goodness of fit, and slope of the regression line. Begin by plotting the regression line using April and December's advertising cost levels, then round the monthly revenues to the nearest increment of $100. (Enlarge the graph and use the line button displayed below to draw the graph.) $860 BAR $800.000 $760.000 Data Table $120,000 $689.000 $600.000 $550.000 Month Revenues 000 $480.000- $440,000 8 000 $320.000 580 000 40 noo 200 000 Ticket Revenues Promotional Costs $ 250,000 $ 59,000 320,000 72,000 370,000 87,000 530,000 97,000 $40,0695,09010,8045,8080,6204,000 Promotional Costs Click to enlarge graph April May June July August September October November 480,000 107,000 117,000 500,000 590,000 127,000 720,000 187,000 Requirements December 844,500 204,000 Print Done 1. Draw the regression line and evaluate it using the criteria of economic plausibility, goodness of fit, and slope of the regression line 2. Use the high-low method to compute the function relating promotional costs and revenues 3. Using (a) the regression equation and (b) the high-low equation, what is the increase in revenues for each $10,000 spent on promotional within the relevant range? Which method should Dawn use to predict the effect of promotional costs on revenues? Explain briefly. Print Done