An advertising firm wishes to demonstrate to its clients the effectiveness of the advertising campaigns it has conducted. The following bivariate data on twelve recent campaigns, including the cost of each campaign (in millions of dollars) and the resulting percentage increase in sales following the campaign, were presented by the firm. Based on these data, we would compute the least-squares regression line to be y = 6.07+0.22x, with x representing campaign cost and y representing the resulting percentage increase in sales. (This line is shown below, along with a scatter plot of the data.) Campaign cost, x (in millions of dollars) 1.67 Increase in sales, y (percent) 6.20 6.57 6.48 6.95 6.35 6.87 6.79 2.98 1.90 2.83 1.43 3.62 2.28 3.77 6.86 1.60 6.61 2.45 6.60 3.10 6.61 3.96 7.05 Send data to calculator ✓ Send data to Excel Increase in sales, y (percent) Campaign cost, x (in millions of dollars) Based on the sample data and the regression line, complete the following. (a) For these data, values for campaign cost that are less than the mean of the values for campaign cost tend to be paired with values for percentage increase in sales that are (Choose one) the mean of the values for percentage increase in sales. (b) According to the regression equation, for an increase of one million dollars in advertising campaign cost, there is a corresponding increase of how many percent in sales? (Do not round your answer.) 0 (c) From the regression equation, what is the predicted percentage increase in sales when the advertising campaign cost is 1.98 million dollars? (Round your answer to at least two decimal places.) 0 (d) From the regression equation, what is the predicted percentage increase in sales when the advertising campaign cost is 1.67 million dollars? (Round your answer to at least two decimal places.)
An advertising firm wishes to demonstrate to its clients the effectiveness of the advertising campaigns it has conducted. The following bivariate data on twelve recent campaigns, including the cost of each campaign (in millions of dollars) and the resulting percentage increase in sales following the campaign, were presented by the firm. Based on these data, we would compute the least-squares regression line to be y = 6.07+0.22x, with x representing campaign cost and y representing the resulting percentage increase in sales. (This line is shown below, along with a scatter plot of the data.) Campaign cost, x (in millions of dollars) 1.67 Increase in sales, y (percent) 6.20 6.57 6.48 6.95 6.35 6.87 6.79 2.98 1.90 2.83 1.43 3.62 2.28 3.77 6.86 1.60 6.61 2.45 6.60 3.10 6.61 3.96 7.05 Send data to calculator ✓ Send data to Excel Increase in sales, y (percent) Campaign cost, x (in millions of dollars) Based on the sample data and the regression line, complete the following. (a) For these data, values for campaign cost that are less than the mean of the values for campaign cost tend to be paired with values for percentage increase in sales that are (Choose one) the mean of the values for percentage increase in sales. (b) According to the regression equation, for an increase of one million dollars in advertising campaign cost, there is a corresponding increase of how many percent in sales? (Do not round your answer.) 0 (c) From the regression equation, what is the predicted percentage increase in sales when the advertising campaign cost is 1.98 million dollars? (Round your answer to at least two decimal places.) 0 (d) From the regression equation, what is the predicted percentage increase in sales when the advertising campaign cost is 1.67 million dollars? (Round your answer to at least two decimal places.)
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
Related questions
Question
adverising firm - 10
Transcribed Image Text:An advertising firm wishes to demonstrate to its clients the effectiveness of the advertising campaigns it has conducted. The following bivariate data on twelve
recent campaigns, including the cost of each campaign (in millions of dollars) and the resulting percentage increase in sales following the campaign, were
presented by the firm. Based on these data, we would compute the least-squares regression line to be y = 6.07+0.22x, with x representing campaign cost and
y representing the resulting percentage increase in sales. (This line is shown below, along with a scatter plot of the data.)
Campaign
cost, x
(in millions of
dollars)
1.67
2.98
1.90
2.83
1.43
3.62
2.28
Increase in
sales, y
(percent)
6.20
6.57
6.48
6.95
6.35
6.87
6.79
6.86
6.61
6.60
6.61
7.05
3.77
1.60
2.45
3.10
3.96
Send data to calculator ✓
Send data to Excel
Increase in sales, y
(percent)
Campaign cost, x
(in millions of dollars)
Based on the sample data and the regression line, complete the following.
(a) For these data, values for campaign cost that are less than the mean of the values for campaign cost tend to be paired
with values for percentage increase in sales that are (Choose one) the mean of the values for percentage increase
in sales.
(b) According to the regression equation, for an increase of one million dollars in advertising campaign cost, there is a
corresponding increase of how many percent in sales? (Do not round your answer.)
(c) From the regression equation, what is the predicted percentage increase in sales when the advertising campaign cost is
1.98 million dollars? (Round your answer to at least two decimal places.)
0
(d) From the regression equation, what is the predicted percentage increase in sales when the advertising campaign cost is
1.67 million dollars? (Round your answer to at least two decimal places.)
X
3
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