Consider the accompanying data on x = advertising share and y = market share for a particular brand of soft drink during 10 randomly selected years. (a) Construct a scatterplot for these data. O 0.10 y 0.11 p y 0.11 0.10 0.09 k.k. 0.08 0.07 0.06 0.05 0.04 0.14 0.09 0.08 0.07 0.06 0.05 0.04 0.12 X 0.102 0.072 0.072 0.077 0.086 0.047 0.060 0.050 0.070 0.052 y 0.14r 0.10 y 0.132 0.124 0.122 0.086 0.08 0.06 0.04 y = 0.079 0.04 0.06 0.08 0.10 0.12 0.076 0.04 0.05 0.06 0.07 0.08 0.09 0.10 0.11 0.065 0.059 0.051 0.039 y 0.14 0.12 0.10 0.08 0.06 0.04 0.04 0.06 0.04 0.05 0.06 0.07 0.08 0.09 0.10 0.11 Is the simple linear regression model appropriate for describing the relationship between x and y? O Yes O No 0.08 (b) Calculate the equation of the estimated regression line. (Round your numerical values to four decimal places.) 0.10 0.12 0.14 (c) Calculate the value of r². (Round your answer to four decimal places.) Obtain the predicted market share when the advertising share is 0.09. (Round your answer to five decimal places.) Interpret this value. O This is a typical deviation of advertising share in this data set from the value predicted by the estimated regression line. O This is the percentage of the variation in market share that can be explained by the linear regression model relating market share and advertising share. (d) Calculate a point estimate of o. (Round your answer to five decimal places.) O This is a typical deviation of market share in this data set from the value predicted by the estimated regression line. O This is the percentage of the variation in advertising share that can be explained by the linear regression model relating market share and advertising share. What is the value of degrees of freedom associated with this estimate?

Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)

6th Edition

ISBN:9781337111348

Author:Bruce Crauder, Benny Evans, Alan Noell

Publisher:Bruce Crauder, Benny Evans, Alan Noell

Chapter5: A Survey Of Other Common Functions

Section5.3: Modeling Data With Power Functions

Problem 6E: Urban Travel Times Population of cities and driving times are related, as shown in the accompanying...

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Transcribed Image Text:Consider the accompanying data on x = advertising share and y = market share for a particular brand of soft drink during 10 randomly selected years. O 0.09 0.08 0.07 0.06 0.05 0.04 (a) Construct a scatterplot for these data. y 0.11 F 0.10 0.12 y 0.14 r 0.10 0.08 0.06 X 0.102 0.072 0.072 0.077 0.04 y y = 0.132 0.124 0.122 0.086 0.079 Yes O No 0.086 0.047 0.04 0.076 X 0.06 0.08 0.10 0.12 0.14 X 0.04 0.05 0.06 0.07 0.08 0.09 0.10 0.11 0.060 0.050 0.070 0.065 O y 0.11 F 0.10 0.09 L 0.08 0.07 0.06 0.05 0.04 0.04 0.06 0.059 0.051 0.04 0.14 0.12 0.10 B 0.08 0.06 0.04 0.052 Is the simple linear regression model appropriate for describing the relationship between x and y? (c) Calculate the value of r². (Round your answer to four decimal places.) 0.039 X 0.08 0.10 0.12 0.14 (b) Calculate the equation of the estimated regression line. (Round your numerical values to four decimal places.) X 0.05 0.06 0.07 0.08 0.09 0.10 0.11 What is the value of degrees of freedom associated with this estimate? Obtain the predicted market share when the advertising share is 0.09. (Round your answer to five decimal places.) (d) Calculate a point estimate of o. (Round your answer to five decimal places.) Interpret this value. This is a typical deviation of advertising share in this data set from the value predicted by the estimated regression line. This is the percentage of the variation market share that can be explained by the linear regression model relating market share and advertising share. O This is a typical deviation of market share in this data set from the value predicted by the estimated regression line. This is the percentage of the variation advertising share that can be explained by the linear regression model relating market share and advertising share.

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