PROBLEM SOLVING. Solve the following problems. No immediate rounding. Round off final answers to three decimal places. The following data set shows the weekly advertising expenditure and sales of 12 retail merchants selling face masks. SCATTER PLOT: 600 500 400 300 200 100 0 0 10 Advertising cost (S) 20 40 20 25 20 30 50 ● 40 20 50 40 25 50 Scatter Plot 30 40 Sales (S) 385 400 395 365 475 440 490 420 560 525 480 510 50 60
PROBLEM SOLVING. Solve the following problems. No immediate rounding. Round off final answers to three decimal places. The following data set shows the weekly advertising expenditure and sales of 12 retail merchants selling face masks. SCATTER PLOT: 600 500 400 300 200 100 0 0 10 Advertising cost (S) 20 40 20 25 20 30 50 ● 40 20 50 40 25 50 Scatter Plot 30 40 Sales (S) 385 400 395 365 475 440 490 420 560 525 480 510 50 60
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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PROBLEM SOLVING. Solve the following problems. No immediate rounding. Round off final answers to three decimal places.
Transcribed Image Text:PROBLEM SOLVING. Solve the following problems. No immediate rounding. Round off final answers to
three decimal places.
The following data set shows the weekly advertising expenditure and sales of 12 retail merchants
selling face masks.
SCATTER PLOT:
600
500
400
300
200
100
0
0
10
Advertising cost (S)
20
40
20
25
20
30
50
40
20
50
40
25
50
Scatter Plot
30
40
Sales (S)
385
400
395
365
475
440
490
420
560
525
480
510
:
50
60
Transcribed Image Text:Find the equation of the regression line. You may use Excel.
1. What is the value of b0?
2. What is the value of 1?
3.
Interpret the coefficients of the estimated regression line.
4. What is the R-square of the model?
5. Interpret the R-square value.
For the following values for advertising cost, is it appropriate to use the regression equation to
estimate the weekly sales? If yes, what is the predicted value? If not, how come?
1. $35
2. $60
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