Sales 5 Problem 1. If the research question is to see how the Advertising variable or...

Transcribed Image Text:

Sales 5 Problem 1. If the research question is to see how the Advertising variable or the Income variable will influence Sales, then which variable is the response variable? 2. A scatterplot between Sales and Advertising and a scatterplot between Sales and Income are shown as below. Describe the strength and nature (positive or negative) of the relationship between Sales and Advertising, and between Sales and Income 10 15- Sales 10 15 10 20 30 25 50 75 100 Advertising Income 3. The estimated regression equation summarizing the relationship between the Sales and Advertising is 1 Sales 6.74+0.11 x Advertising. = The estimated regression equation summarizing the relationship between the Sales and Income is Sales = 6.44+0.02 Income. Explain the slope estimate in each estimated regression equation. 4. Can we conclude that Advertising explains more variation in Sales based on the slope estimate? Explain your answer briefly. Sales 5 Problem 1. If the research question is to see how the Advertising variable or the Income variable will influence Sales, then which variable is the response variable? 2. A scatterplot between Sales and Advertising and a scatterplot between Sales and Income are shown as below. Describe the strength and nature (positive or negative) of the relationship between Sales and Advertising, and between Sales and Income 10 15- Sales 10 15 10 20 30 25 50 75 100 Advertising Income 3. The estimated regression equation summarizing the relationship between the Sales and Advertising is 1 Sales 6.74+0.11 x Advertising. = The estimated regression equation summarizing the relationship between the Sales and Income is Sales = 6.44+0.02 Income. Explain the slope estimate in each estimated regression equation. 4. Can we conclude that Advertising explains more variation in Sales based on the slope estimate? Explain your answer briefly.