Advertising Sales (million USD) (*000USD) X y 9.6 23 46 11.3 60 12.8 54 9.8 28 8.9 33 12.5 25 12.0 31 11.4 36 88 12.6 13.7 90 14.4 99 15.9 1.Using the data above answer the following questions. a) Recall ei = Yi - Ÿi. Given that Xi = 8.9, find the value of and all other values of ei. Also, check that the sum of the residuals should be zero also find Sum of Squared Errors (SSE). b) Decomposition of the Variation in Y: How do the actual and predicted Y values differ from the average value of Y? TOTAL VARIATION: find this variation for Xị = 9.8. Find SST. EXPLAINED VARIATION: find this variation for Xi= 5. Find SSR. c)Find and interpret the Coefficient of Determination using your previous calculations.
Inverse Normal Distribution
The method used for finding the corresponding z-critical value in a normal distribution using the known probability is said to be an inverse normal distribution. The inverse normal distribution is a continuous probability distribution with a family of two parameters.
Mean, Median, Mode
It is a descriptive summary of a data set. It can be defined by using some of the measures. The central tendencies do not provide information regarding individual data from the dataset. However, they give a summary of the data set. The central tendency or measure of central tendency is a central or typical value for a probability distribution.
Z-Scores
A z-score is a unit of measurement used in statistics to describe the position of a raw score in terms of its distance from the mean, measured with reference to standard deviation from the mean. Z-scores are useful in statistics because they allow comparison between two scores that belong to different normal distributions.
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