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You have to study the relationship between the monthly e-commerce sales and the online advertising costs. You have the survey results for 7 online stores
You have to study the relationship between the monthly e-commerce sales and the online advertising costs. You have the survey results for 7 online stores for the last year. Your task is to find the equation of the straight line that fits the data best. The following table represents the survey results from the 7 online stores. Monthly E-commerce Sales Store (in 1000 s). X Online Advertising Dollars (1000 s). Y 1 368 1.5 2 340 1.3 3 565 2.8 4 954 0.8 5 331 1 6 556 2.2 7 376 1.3 1. Find the correlation coefficient. Round the correlation coefficient to nearest thousandth if necessary. (0.13457 would be entered 0.135) 2. Use a TI-84 and check the graph of the scatter plot. If you see any outlier(s), exclude them from the data set, then answer the following questions. (a) Find the correlation coefficient without outlier(s). . Round the correlation coefficient to nearest thousandth if necessary. (0.13457 would be entered 0.135) (b) Find the critical value from the table. Does linear relation exist between monthly E-commerce sales and online advertising costs? (enter "yes", "no" or "na")
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