A study was made by a retail merchant to determine the relation between weekly advertising expenditures and sales. Thefollowing data were recorded:Advertising Costs ($)Sales ($)402038540025395203653050475440404902042050405605252548050510a.Find the equation of the regression line to predict weekly sales from the advertising expenditures.b.Determine how much will be the sales when advertising costs are 28, 42 and 48C.Find the correlation coefficient. (Explain your answer)

Dependent variable, y : Advertising costs Independent variable, x : Sales Given data : x y 40…

Answered: A study was made by a retail merchant…

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 used car company believes that there is a relationship between the amount spent on advertising and its sales. Data collected for 6 years are as follow: Amount spent on advertising Sales ($thousands) ($millions) 2.0 1 3.0 3 2.5 4 2.0 2 2.0 1 3.5 7 1. Illustrate the above on a scatter plot.
The table shows the money earned from selling ice cream at a Galveston restaurant as it relates to the high temperature for the day. Temperature 58 61 71 78 81 85 89 96 100 (Fahrenheit) Ice Cream Sales 210 240 515 609 796 800 950 994 900 (Dollars) What does the correlation coefficient for the data indicate about the strength of the linear association between the temperature and ice cream sales in Galveston? А Strong negative correlation Weak negative correlation C Strong positive correlation Weak positive correlation
5. The table below shows varying prices of music sold on a streaming service. Determine the linear regression to estimate the weekly sales of albums sold, use your regression to estimate the weekly sales if the price is $9 per album, and state the correlation coefficient, r, and interpret its meaning in the context of this problem. Price ($) Weekly sales (in thousands) $8 440 $8.50 380 $10 $11.50 250 180
A chemical engineer studied the relationship between production quality and cost, the results as shown in the table below: Use X – test to find out whether there is an association between production quality and cost ? production quality cost 1 2 4 1 60 25 15 10 66 32 13 9 3 120 40 25 15
Listed below are paired data consisting of movie budget amounts and the amounts that the movies grossed. Find the regression equation, letting the budget be the predictor (x) variable. Find the best predicted amount that a movie will gross if its budget is $140 million. Use a significance level of a = 0.05. Budget ($)in Millions Gross ($) in Millions 39 22 118 67 77 49 124 66 12 64 128 19 6. 147 9. 118 6. 99 75 127 107 95 99 64 109 209 44 8 293 48 Click the icon to view the critical values of the Pearson correlation coefficient r. The regression equation is y =+x. (Round to one decimal place as needed.)
Listed below are paired data consisting of movie budget amounts and the amounts that the movies grossed. Find the regression equation, letting the budget be the predictor (x) variable. Find the best predicted amount that a movie will gross if its budget is $135 million. Use a significance level of alpha equals 0.05 . Budget left parenthesis $ right parenthesis in Millions 45 24 115 74 72 48 117 67 4 60 124 24 6 152 8 Gross left parenthesis $ right parenthesis in Millions 115 10 95 69 127 112 93 101 50 102 223 26 18 282 56 The regression equation is ŷ = __ + __x. (Round to one decimal place as needed.)
Listed below are paired data consisting of movie budget amounts and the amounts that the movies grossed. Find the regression equation, letting the budget be the predictor (x) variable. Find the best predicted amount that a movie will gross if its budget is $105 million. Use a significance level of a = 0.05. Budget ($)in Millions Gross ($) in Millions 41 23 114 75 78 47 120 64 10 59 127 22 12 150 2 0 127 18 111 65 113 112 102 94 64 98 211 41 22 288 57 Click the icon to view the critical values of the Pearson correlation coefficient r. ..... x. (Round to one decimal place as needed.) The regression equation is = + The best predicted gross for a movie with a $105 million budget is $ million. (Round to one decimal place as needed.)
The director of surgery at a local hospital is interested in understanding his unit’s costs. An assistant collected data for the past 36 months on unit cost (labor, supplies, and so on) along with the number of procedures performed in the unit. The assistant analyzed the data using a spreadsheet program, and the following output was generated. Equation Intercept $ 1,006,000 Coefficient on procedures $ 230 Statistical data Correlation coefficient 0.518 R2 0.268 The unit is planning to perform an average 18,5000 procedures per month for the coming year. Required A: Use the regression output to write the surgical unit cost equation. Surgical unit cost = ____________ + __________ x Procedures Required B: Based on the cost equation,…
The table below shows the age of 8 individuals and the packs of medicine they consume each year. Age 17 27 54 35 42 31 46 23 Medicine (in packs) 17 7 12 6 2 a. Determine the correlation coefficient r between the two variables. Answer rounded to at least 4 decimal places. b. Determine the slope coefficient B1 for the regression of medicine packs consumed on age. Answer rounded to at least 4 decimal places. c. Determine the y-intercept Bo for the regression of medicine packs consumed on age. Answer rounded to at least 4 decimal places. d. What will be the expected packs of medicines consumed per year by a person of age 33. Answer rounded to at least 4 decimal places. packs
What is the value of the correlation coefficent, r? Is the strength of the linear relationship strong, moderately strong, somewhat weak or very weak?
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