A company has recorded expenditure on advertising and the resulting sales for six months are as follows: Month Expenditure Sales(Y) March 20 170 April 40 240 May 50 260 June 60 300 July 30 220 August 40 250 Required: i. Plot the data on a scatter diagram and comment ii. Calculate the line of best fit through the data, and interpret your values of α and β iii. Determine the explanatory power of your system iv. Forecast sales when advertising expenditure is: 500 and 100 respectively
A company has recorded expenditure on advertising and the resulting sales for six months are as follows: Month Expenditure Sales(Y) March 20 170 April 40 240 May 50 260 June 60 300 July 30 220 August 40 250 Required: i. Plot the data on a scatter diagram and comment ii. Calculate the line of best fit through the data, and interpret your values of α and β iii. Determine the explanatory power of your system iv. Forecast sales when advertising expenditure is: 500 and 100 respectively
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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A company has recorded expenditure on advertising and the resulting sales for six months are as follows:
| Month | Expenditure | Sales(Y) |
| March | 20 | 170 |
| April | 40 | 240 |
| May | 50 | 260 |
| June | 60 | 300 |
| July | 30 | 220 |
| August | 40 | 250 |
Required:
i. Plot the data on a
ii. Calculate the line of best fit through the data, and interpret your values of α and β
iii. Determine the explanatory power of your system
iv. Forecast sales when advertising expenditure is: 500 and 100 respectively
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