d on the firm's data and the regression line, complete the following. (a) For these data, values for campaign cost that are greater 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?
Correlation
Correlation defines a relationship between two independent variables. It tells the degree to which variables move in relation to each other. When two sets of data are related to each other, there is a correlation between them.
Linear Correlation
A correlation is used to determine the relationships between numerical and categorical variables. In other words, it is an indicator of how things are connected to one another. The correlation analysis is the study of how variables are related.
Regression Analysis
Regression analysis is a statistical method in which it estimates the relationship between a dependent variable and one or more independent variable. In simple terms dependent variable is called as outcome variable and independent variable is called as predictors. Regression analysis is one of the methods to find the trends in data. The independent variable used in Regression analysis is named Predictor variable. It offers data of an associated dependent variable regarding a particular outcome.
![Increase in sales
(percent)
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 = 6.16+0.18x, 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.)
Increase in sales, y
Campaign cost, x
(in millions of dollars)
(percent)
3.02
6.91
7.2+
1.92
6.80
3.83
6.85
6.8-
1.40
6.37
6.6 -
3.12
6.42
3.56
6.82
6.4-
4.06
6.94
6.2
1.64
6.56
6-
2.06
6.50
1.62
6.18
1.5
2.5
3.5
6.66
Campaign cost
(in millions of dollars)
2.87
2.25
6.61
Send data to calculator
Based on the firm's data and the regression line, complete the following.
(a) For these data, values for campaign cost that are greater than the mean of the values for](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb63fc9e3-7584-4c90-be8d-bc130c8a2c55%2Fb48b7082-0d13-437c-895b-178f15df0b4a%2F382bqj_processed.jpeg&w=3840&q=75)
![Based on the firm's data and the regression line, complete the following.
(a) For these data, values for campaign cost that are greater 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?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb63fc9e3-7584-4c90-be8d-bc130c8a2c55%2Fb48b7082-0d13-437c-895b-178f15df0b4a%2Feshxxf_processed.jpeg&w=3840&q=75)
![](/static/compass_v2/shared-icons/check-mark.png)
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
![MATLAB: An Introduction with Applications](https://www.bartleby.com/isbn_cover_images/9781119256830/9781119256830_smallCoverImage.gif)
![Probability and Statistics for Engineering and th…](https://www.bartleby.com/isbn_cover_images/9781305251809/9781305251809_smallCoverImage.gif)
![Statistics for The Behavioral Sciences (MindTap C…](https://www.bartleby.com/isbn_cover_images/9781305504912/9781305504912_smallCoverImage.gif)
![MATLAB: An Introduction with Applications](https://www.bartleby.com/isbn_cover_images/9781119256830/9781119256830_smallCoverImage.gif)
![Probability and Statistics for Engineering and th…](https://www.bartleby.com/isbn_cover_images/9781305251809/9781305251809_smallCoverImage.gif)
![Statistics for The Behavioral Sciences (MindTap C…](https://www.bartleby.com/isbn_cover_images/9781305504912/9781305504912_smallCoverImage.gif)
![Elementary Statistics: Picturing the World (7th E…](https://www.bartleby.com/isbn_cover_images/9780134683416/9780134683416_smallCoverImage.gif)
![The Basic Practice of Statistics](https://www.bartleby.com/isbn_cover_images/9781319042578/9781319042578_smallCoverImage.gif)
![Introduction to the Practice of Statistics](https://www.bartleby.com/isbn_cover_images/9781319013387/9781319013387_smallCoverImage.gif)