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Please help me with this question Monthly sales of a company's product (Y, in thousands of dollars) is linearly related with monthly advertisement spending (X,
Please help me with this question
Monthly sales of a company's product (Y, in thousands of dollars) is linearly related with monthly advertisement spending (X, in thousands of dollars). Suppose you have n = 8 pairs of data and decide to model this relationship using linear regression and find that y = 3.8x - 5.3 and Pearson's correlation r = 0.86. a. There is a strong positive association between monthly sales and monthly advertisement spending. Points possible: 2 b. Using only the regression line, predict the change in monthly sales of the product when advertising spending is increased by $3,000. 3.80 11.40 11400.00 3800.00 11394.7 6.10 Points possible: 2 c. Suppose you are given that the standard error of the slope is 2 and wish to test Ho : B1 = 0 versus HA : B1 > 0. c1. What degrees of freedom should be used to test this hypothesis? |7 Points possible: 3 c2. Compute the test statistic to test this hypothesis.c. Suppose you are given that the standard error of the slope is 2 and wish to test Ho : B1 = 0 versus HA : B1 > 0. c1. What degrees of freedom should be used to test this hypothesis? |7 Points possible: 3 c2. Compute the test statistic to test this hypothesis. O -3.7 O 2.7 1.9 1.4 O -2.7 Points possible: 3 c3. What conclusion would you reach using a significance level of 0.05? There is not enough evidence to suggest that monthly sales of the product increase with higher monthly advertisement spending. There is statistically significant evidence that monthly sales of the product increases with higher monthly advertisement spending. Points possible: 3Step by Step Solution
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