Question
Q.6. Chapter 13. A company is trying to estimate the linear relationship between its total revenue per month (in thousands of dollars) and the number
Q.6. Chapter 13. A company is trying to estimate the linear relationship between its total revenue per month (in thousands of dollars) and the number of advertisements they place on the radio every month. They have data from the past year, and it is shown in the following table.
Months | Revenue (in $1,000s) | Advertisements |
Jan | 8.30 | 21 |
Feb | 22.70 | 180 |
Mar | 13.40 | 50 |
Apr | 21.10 | 195 |
May | 15.00 | 96 |
Jun | 12.50 | 44 |
Jul | 20.70 | 171 |
Aug | 19.72 | 135 |
Sep | 16.12 | 120 |
Oct | 13.10 | 75 |
Nov | 15.67 | 106 |
Dec | 25.30 | 198 |
Run a regression analysis using the Revenues as the dependent variable and the number of advertisements as the independent variable and fill in the blanks below (round to 3 spaces after decimal point):
SUMMARY OUTPUT | ||||||
Regression Statistics | ||||||
Multiple R | 0.966 | |||||
R Square | ? | |||||
Adjusted R Square | 0.927 | |||||
Standard Error | 1.340 | |||||
Observations | 12 | |||||
ANOVA | ||||||
df | SS | MS | F | Significance F | ||
Regression | 1 | ? | 251.954 | ? | 0.000 | |
Residual | 10 | 17.965 | ? | |||
Total | 11 | 269.919 | ||||
Coefficients | Standard Error | t Stat | P-value | Lower 95% | Upper 95% | |
Intercept | ? | 0.858 | 9.216 | 0.000 | 5.993 | 9.815 |
Advertisements | ? | 0.007 | 11.843 | 0.000 | 0.063 | 0.093 |
The boxes with question marks above are the blanks that need to be filled in.
If the company plans to air 100 radio advertisements next month, their expected revenue would be__________ $ (in $1,000s)
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