. Jerry Sam owns and operates a chain of 12 department stores in New Ville. Sales figures and advertising expenses for the stores are provided in the table below. Sales are given in millions of dollars; advertising expenses are in tens of thousands of dollars. Store Advertising Sales 1 14 6 2 11 3 3 15 5 4 16 5 5 24 15 6 28 18 7 22 17 8 21 12 9 26 15 10 43 20 11 34 14 12 9 5 i. Calculate the slope for the regression line. (show all working) ii. Calculate the intercept for the regression line. (show all working) iii. Write the equation for the regression line. iv. Forecast sales for a store if advertising spending is:- 1. $240,000 2. $300,000
. Jerry Sam owns and operates a chain of 12 department stores in New Ville. Sales figures and advertising expenses for the stores are provided in the table below. Sales are given in millions of dollars; advertising expenses are in tens of thousands of dollars. Store Advertising Sales 1 14 6 2 11 3 3 15 5 4 16 5 5 24 15 6 28 18 7 22 17 8 21 12 9 26 15 10 43 20 11 34 14 12 9 5 i. Calculate the slope for the regression line. (show all working) ii. Calculate the intercept for the regression line. (show all working) iii. Write the equation for the regression line. iv. Forecast sales for a store if advertising spending is:- 1. $240,000 2. $300,000
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter13: Regression And Forecasting Models
Section13.4: Multiple Regression Models
Problem 15P: Stock market analysts are continually looking for reliable predictors of stock prices. Consider the...
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. Jerry Sam owns and operates a chain of 12 department stores in New Ville. Sales figures
and advertising expenses for the stores are provided in the table below. Sales are given in
millions of dollars; advertising expenses are in tens of thousands of dollars.
Store Advertising Sales
1 14 6
2 11 3
3 15 5
4 16 5
5 24 15
6 28 18
7 22 17
8 21 12
9 26 15
10 43 20
11 34 14
12 9 5
i. Calculate the slope for the regression line. (show all working)
ii. Calculate the intercept for the regression line. (show all working)
iii. Write the equation for the regression line.
iv.
1. $240,000
2. $300,000
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