Linear Regression Problem: A marketing analyst is studying
Linear Regression Problem: A marketing analyst is studying the relationship between the money spent on TV advertising (x) and the increase in sales (y). One study reported the following data (in $) for a particular company.
|
Money spent on TV advertising (x) |
Increase in sales (y) |
|
380 |
550 |
|
645 |
780 |
|
360 |
530 |
|
900 |
1200 |
|
540 |
620 |
|
670 |
800 |
|
820 |
910 |
|
1050 |
1400 |
|
760 |
830 |
|
800 |
905 |
a. Using a software package of your choice, develop a scatterplot and determine whether a linear relationship provides a good fit to this data set.
b. Using a software package of your choice, report the regression analysis results.