An Internet advertising agency is studying the number of hits on a certain website during an advertising

An Internet advertising agency is studying the number of €œhits€ on a certain website during an advertising campaign. It is hoped that as the campaign progresses, the number of hits on the website will also increase in a predictable way from one day to the next. For 10 days of the campaign, the number of hits × 105 is shown:
Original Time Series

(a) For the (x, y) data set of part (a), compute the equation of the sample least-squares line ŷ = a + bx. If the number of hits was 9.3 ( × 105) one day, what do you predict for the number of hits the next day?
(b) Compute the sample correlation coefficient r and the coefficient of determination r2. Test p > 0 at the 1% level of significance. Would you say the time series of website hits is relatively predictable from one day to the next? Explain.

Transcribed Image Text:

Day 2 3 4 5 6 78 9 10 Hits×105 | 1.2 3.5 4.4 7.2 6.9 8.3 9.0 11.2 13.1 14.6