Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Mr. Ali runs a gift shop in the Defense area, Karachi. He advertises weekly in the local newspapers and is considering increasing his advertising budget.

Mr. Ali runs a gift shop in the Defense area, Karachi. He advertises weekly in the local newspapers and is considering increasing his advertising budget. Before doing so, he decides to evaluate the past effectiveness of these advertisements. Five weeks are sampled, and the advertising expenses (in PKR) and sales volume for each is shown in the table given below:

Sales (PKR 100k)

6

8

6

10

6

Advertising (PKR 100k)

4.1

6.72

5.05

7.26

2.69

  1. Calculate coefficient of determination and in the light of the value of coefficient of determination which statement is true. (write only number of correct option in answer box)
  2. Less than 73.3 % variation in sales due to advertising
  3. Less than 73.3 % variation in advertising due to sales
  4. More than 73.3 % variation in sales due to advertising
  5. More than 73.3 % variation in advertising due to sales
  6. 73.3 % variation in advertising due to sales
  7. 73.3% variation in sale for advertising

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Algebra A Text/Workbook

Authors: Charles P McKeague

2nd Edition

1483214176, 9781483214177

More Books

Students also viewed these Mathematics questions

Question

The company has fair promotion/advancement policies.

Answered: 1 week ago