1. The following chart is data over an 8 month period that shows how much a company spent in advertising and the sales revenue for that month MONTH ADVERTISING $ SALES $ March 900 56000 April 2700 89200 May 3150 98500 June 1300 54000 July 3400 97000 Aug 1500 56000 Sept 2300 93000 Oct 2250 79000 d) What is the linear equation (y = mx + b form) that best approximates the relationship between advertising dollars spent(x) and sales revenue(y) based on the above 8 months of data? (round to 2 decimals for the slope and the y intercept) describe how you utilized excel to arrive at this equation (recommended) or show the formula you utilized to arrive at your equation e) What sales revenue would the company expect for the following advertising spending? Round to nearest centshow calculation a) 3000 b) 2100 c) 1300 f) If you were in charge of the advertising department how much would you spend on each of the next 4 months on advertising and how and why did you arrive at your decision? Nov Jan Feb March Please give a short explanation as to how and why you came up with your advertising spending for the above 4 months.
1. The following chart is data over an 8 month period that shows how much a company spent in advertising and the sales revenue for that month MONTH ADVERTISING $ SALES $ March 900 56000 April 2700 89200 May 3150 98500 June 1300 54000 July 3400 97000 Aug 1500 56000 Sept 2300 93000 Oct 2250 79000 d) What is the linear equation (y = mx + b form) that best approximates the relationship between advertising dollars spent(x) and sales revenue(y) based on the above 8 months of data? (round to 2 decimals for the slope and the y intercept) describe how you utilized excel to arrive at this equation (recommended) or show the formula you utilized to arrive at your equation e) What sales revenue would the company expect for the following advertising spending? Round to nearest centshow calculation a) 3000 b) 2100 c) 1300 f) If you were in charge of the advertising department how much would you spend on each of the next 4 months on advertising and how and why did you arrive at your decision? Nov Jan Feb March Please give a short explanation as to how and why you came up with your advertising spending for the above 4 months.
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
1. The following chart is data over an 8 month period that shows how much a company spent in advertising and the sales revenue for that month
MONTH |
ADVERTISING $ |
SALES $ |
March |
900 |
56000 |
April |
2700 |
89200 |
May |
3150 |
98500 |
June |
1300 |
54000 |
July |
3400 |
97000 |
Aug |
1500 |
56000 |
Sept |
2300 |
93000 |
Oct |
2250 |
79000 |
d) What is the linear equation (y = mx + b form) that best approximates the relationship between advertising dollars spent(x) and sales revenue(y) based on the above 8 months of data? (round to 2 decimals for the slope and the y intercept) describe how you utilized excel to arrive at this equation (recommended) or show the formula you utilized to arrive at your equation
e) What sales revenue would the company expect for the following advertising spending? Round to nearest centshow calculation
a) 3000
b) 2100
c) 1300
f) If you were in charge of the advertising department how much would you spend on each of the next 4 months on advertising and how and why did you arrive at your decision?
Nov
Jan
Feb
March
Please give a short explanation as to how and why you came up with your advertising spending for the above 4 months.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 2 images
Follow-up Questions
Read through expert solutions to related follow-up questions below.
Follow-up Question
For Step F, what formula did you use to figure out those numbers for each month?
Solution
by Bartleby Expert
Recommended textbooks for you
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman