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I am having trouble solving the problem below. A soft-drink company monitored its television advertising over an eight-week period to evaluate the effect on sales
I am having trouble solving the problem below.
A soft-drink company monitored its television advertising over an eight-week period to evaluate the effect on sales (in millions of dollars) with respect to the number of 30-second spots aired in that week. Estimate the regression equation. The data are as follows:
Week 1 2 3 4 5 6 7 8
Number on Spots 8 12 16 10 8 12 16 10 Sales 25 34 39 32 22 30 43 31
- Estimate the regression line for sales on spots.
- Test whether the slope is significantly different from zero, using = 0.10.
- Compute S (the standard error of estimate, p. 218) and R2 (the coefficient of determination, p. 219) and interpret the results.
- The company has reserved 20 spots for Week Nine. Forecast the sales and construct a 90 percent prediction interval.
- Comment on the level of accuracy this analysis provides.
I have been able to find the x =11.5 and the y= 32
Can you help me to solve the regression line for sales on spots?
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