The management of a supermarket wanted to check the effect of the number of commercials broadcast...

 

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The management of a supermarket wanted to check the effect of the number of commercials broadcast on local radio (X) on the gross sales (in million of dollars) at the store (Y). The management experimented for eight weeks by broadcasting a different number of commercials each week on local radio. The following information are given: EX = 183 =29.61 2 = 4529 = 111.4837 (a) Find the least square estimates of the intercept and the slope coefficients. Give an interpretation of the two coefficients. =701.81 n=8 (b) Compute the correlation coefficient (r) and the coefficient of determination (r). Give an interpretation of the coefficient of determination. (c) Predict the gross sales for a week with 25 commercials. The management of a supermarket wanted to check the effect of the number of commercials broadcast on local radio (X) on the gross sales (in million of dollars) at the store (Y). The management experimented for eight weeks by broadcasting a different number of commercials each week on local radio. The following information are given: EX = 183 =29.61 2 = 4529 = 111.4837 (a) Find the least square estimates of the intercept and the slope coefficients. Give an interpretation of the two coefficients. =701.81 n=8 (b) Compute the correlation coefficient (r) and the coefficient of determination (r). Give an interpretation of the coefficient of determination. (c) Predict the gross sales for a week with 25 commercials.

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a The least square estimates of the intercept and the slope coefficient can be calculated using the ... View the full answer