From the regression equation, what is the predicted percentage increase in sales when the advertising campaign cost is 1.50 million dollars? Round your answer to two or more decimal places. B. From the regression equation, what is the predicted percentage increase in sales when the advertising campaign cost is 1.62 million dollars?
From the regression equation, what is the predicted percentage increase in sales when the advertising campaign cost is 1.50 million dollars? Round your answer to two or more decimal places. B. From the regression equation, what is the predicted percentage increase in sales when the advertising campaign cost is 1.62 million dollars?
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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Based on the firm's data and the regression line, answer the following.
A. From the regression equation, what is the predicted percentage increase in sales when the advertising campaign cost is 1.50 million dollars? Round your answer to two or more decimal places.
B. From the regression equation, what is the predicted percentage increase in sales when the advertising campaign cost is 1.62 million dollars? Round your answer to two or more decimal places.
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 = 6.17+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.)
Transcribed Image Text:Campaign cost, x
(in millions of dollars)
2.99
3.13
3.54
3.22
1.62
2.19
3.76
2.05
Increase in sales, y
(percent)
6.62
6.93
6.85
6.56
6.68
6.49
6.80
6.75
Increase in sales
(percent)
7.2+
7-
6.8
6.6-
6.4-
6.2
6+
X
X
X
X
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