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Fit the following two curves to these data: linear (Y 5 a 1 bX) and power (Y 5 aXb). Which equation best fits the data? b.    Interpret the best-fitting equation. c.    Using the best-fitting equation, predict sales during a month in which $60,000 is spent on advertising.

Fit the following two curves to these data: linear (Y 5 a 1 bX) and power (Y 5 aXb). Which equation best fits the data? b.    Interpret the best-fitting equation. c.    Using the best-fitting equation, predict sales during a month in which $60,000 is spent on advertising.

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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35.    The file P13_35.xlsx contains the amount of money spent advertising a product (in thousands of dollars) and the number of units sold (in millions) for eight months. a. Assume that the only factor influencing monthly sales is advertising. Fit the following two curves to these data: linear (Y 5 a 1 bX) and power (Y 5 aXb). Which equation best fits the data? b.    Interpret the best-fitting equation. c.    Using the best-fitting equation, predict sales during a month in which $60,000 is spent on advertising.  (Note that the data from P13_35.xlsx is already in the excel sheet).

D28 1 2 3 4 5 6 Paste 7 A Month 1 2 3 4 5 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 6 7 8 Calibri V BI U H x ✓ fx B Advertising $1,000 $2,000 $3,000 $20,000 $30,000 $50,000 $80,000 $100,000 C Units Sold 4,000,000 4,800,000 5,000,000 7,500,000 8,000,000 9,000,000 9,900,000 10,200,000 V 11 V D Α' Α΄ Av E F
Transcribed Image Text:D28 1 2 3 4 5 6 Paste 7 A Month 1 2 3 4 5 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 6 7 8 Calibri V BI U H x ✓ fx B Advertising $1,000 $2,000 $3,000 $20,000 $30,000 $50,000 $80,000 $100,000 C Units Sold 4,000,000 4,800,000 5,000,000 7,500,000 8,000,000 9,000,000 9,900,000 10,200,000 V 11 V D Α' Α΄ Av E F
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