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You have been given a sample data set related to sales revenue and advertising expenditure in Dian packaging (Note: Data set is same as in

You have been given a sample data set related to sales revenue and advertising expenditure in Dian packaging (Note: Data set is same as in Q2).

Sales Revenue ($ 000) Advertising expenditure ($ 000)
35 7
37 8
45 10
47 12
51 12
55 11
60 15
72 16
75 18
74 20

Use the above data to answer the questions given below;

  1. Derive a simple regression equation to show the impact of advertising expenditure on company sales revenue (round off the coefficient value to 2 decimals). (6 marks)
  2. Interpret the intercept and slope coefficients in your regression equation (3 marks)
  3. Predict the sales revenue if company increase their adverting expenditure up to $ 28,000.

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