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The following table contains data relating to the sales of a product (Y) as a result of the given advertising budgets (X) of a firm.

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The following table contains data relating to the sales of a product (Y) as a result of the given advertising budgets (X) of a firm. Five of these observations are shown below. n Y (millions) X (millions) 100 10 120 14 AWN 140 20 200 22 5 240 24 n =5 Estimate the regression equation of Y on X, using the 'Ordinary Least Squares' method of estimation. (10) b) Test the significance of the slope coefficient. Is it statistically different from zero at the 5% level of significance? (6) c) How well does the model fit the data

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