Question
Stars Co. is promoting its products in social media in the hope that more promotions will result in more sales. The following data have
Stars Co. is promoting its products in social media in the hope that more promotions will result in more sales. The following data have been collected in the past year showing money spent on promotions in a month and sales on the same month: Month Promotions Spending Sales Amount 30 1200 2 25 1100 3 32 1220 4 23 990 5 31 1190 6 24 1000 17 22 8 28 19 33 770 1080 1230 10 25 1140 740 790 11 12 24 20 Answer the following questions in Excel and submit it on Canvas. No answer here is required. a) Develop a regression equation to forecast the Sales as a function of the Promotions by drawing a scatter chart in Excel. b) Suppose that the company would like to do promotions in the amount of 30 thousands. Estimate the Sales in response to this amount of promotions.
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