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Suppose data on advertising expenditures and revenue (both in thousands of dollars) for a certain restaurant follow. Advertising Expenditures Revenue 1 18 2 33 4
Suppose data on advertising expenditures and revenue (both in thousands of dollars) for a certain restaurant follow. Advertising Expenditures Revenue 1 18 2 33 4 44 6 40 10 51 14 53 20 55 (a) Let x equal advertising expenditures (in thousands of dollars) and y equal revenue (in thousands of dollars). Use the method of least squares to develop a straight line approximation of the relationship between the two variables. (Round your numerical values to two decimal places.)(b) Test whether revenue and advertising expenditures {both in thousands of dollars} are related at a 0.05 level of signicance. (Use the F test.) State the null and alternative hypotheses. O HO: ,6\" = 0 Ha: '80 t D O H0: ,61 a: 0 Ha: ,8] = 0 O H0: 50 a: 0 Ha: '80 = 0 O H0: ,61 = 0 Ha: ,8] t D O H0: 31 2 0 Ha: ,8]
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