shahimermaidFill the blank:
The following data were collected on the study of the relationship between a company’s retail sales and advertising dollars:
Retail Sales ($) | Advertising ($) |
31,312 | 16,468 |
35,990 | 17,563 |
40,659 | 20,780 |
43,771 | 23,658 |
47,252 | 26,372 |
49,353 | 28,012 |
51,281 | 32,167 |
56,470 | 35,305 |
56,655 | 37,199 |
59,636 | 38,002 |
a. Obtain a linear regression line for the data. (Round your answer to 2 decimal places, the tolerance is +/-0.01.)
Retail Sales = _______ +
_________ (advertising)
b. Compute a correlation coefficient and determine the strength of the linear relationship. (Round your answer to 2 decimal places, the tolerance is +/-0.01.)
Correlation coefficient is ______________. It indicates
__________(No, a moderate positive, or a strong positive) linear relationship. (Use not rounded amounts to answer this question.)
c. Using the linear regression equation, develop a forecast of retail sales for advertising dollars of $40,108. (Round your answer to 2 decimal places, the tolerance is +/-0.01. Do not round intermediate results used to achieve this answer.)
Forecast = ________________$
13 years ago
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