Which of the following statements best represents how to interpret the sample coefficient of correlation, r, for the sales regression? a) a. Based on its value, we can assume that the relationship between sales and advertising is relatively weak and positive b) b. Based on its value, we can assume that when advertising expenditures are going up, sales are also going down c) c. Based on its value, we can clearly say that advertising expenditures are causing sales to rise d) d. none of the above are correct e) e. a, b, and c are all correct
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Fall 2020 |
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Yi_sales |
Xi_advert |
Xi*Yi |
Xi2 |
Predicted Yi_sales |
Residuals |
Residuals2 |
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700 |
8 |
5600 |
64 |
626.6307 |
31.36929 |
984.0326 |
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560 |
2 |
1120 |
4 |
292.4166 |
267.5834 |
71600.89 |
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1000 |
13 |
13000 |
169 |
892.8691 |
47.13091 |
2221.323 |
|
302 |
5.8 |
1751.6 |
33.64 |
513.3378 |
-166.338 |
27668.26 |
|
100 |
2.1 |
210 |
4.41 |
303.7459 |
-179.746 |
32308.57 |
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21681.6 |
275.05 |
134783.1 |
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y-bar = |
532.4 |
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x-bar = |
6.18 |
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Fall 2020 |
Yi_sales |
Xi_advert |
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Yi_sales |
1 |
0.816882 |
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Xi_advert |
0.816882 |
1 |
Suppose you are doing a simple, ordinary least squares regression to predict the sales (in millions) of a Fortune 500 company, Yi,…. using advertising expenditures (in millions), Xi. Above are some calculations completed.
Which of the following statements best represents how to interpret the
sample coefficient of correlation, r, for the sales regression?
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