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Jerry Sam owns and operates a chain of 12 department stores in New Ville. Sales figures and advertising expenses for the stores are provided in
- Jerry Sam owns and operates a chain of 12 department stores in New Ville. Sales figures and advertising expenses for the stores are provided in the table below. Sales are given in millions of dollars; advertising expenses are in tens of thousands of dollars.
Store | Advertising | Sales |
1 | 14 | 6 |
2 | 11 | 3 |
3 | 15 | 5 |
4 | 16 | 5 |
5 | 24 | 15 |
6 | 28 | 18 |
7 | 22 | 17 |
8 | 21 | 12 |
9 | 26 | 15 |
10 | 43 | 20 |
11 | 34 | 14 |
12 | 9 | 5 |
i. | Calculate the slope for the regression line. (show all working) | ||
ii. | Calculate the intercept for the regression line. (show all working) | ||
iii. | Write the equation for the regression line. | ||
iv. | Forecast sales for a store if advertising spending is:- | ||
1. $240,000 | |||
2. $300,000 |
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