The following data were collected on the study of the
The following data were collected on the study of the relationship between a company’s retail sales and advertising dollars:
Retails Sales ($) .... Advertising ($)
29,789 ........ 16,893
35,434 ........ 18,398
38,732 ........ 20,376
43,585 ........ 22,982
46,821 ........ 25,732
49,283 ........ 27,281
52,271 ........ 32,182
55,289 ........ 35,298
57,298 ........ 36,281
58,293 ........ 38,178

(a) Obtain a linear regression line for the data.
(b) Compute a correlation coefficient and determine the strength of the linear relationship.
(c) Using the linear regression equation, develop a forecast of retail sales for advertising dollars of $40,000.


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