Sales revenue (Y) and advertising expenditure (X) data for a large retailer for the period 1988-1993 are
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a. Does the plot of Y versus X suggest that a linear relationship exists between X and Y?
b. Calculate the least-squares estimates of the parameters of the regression line, and draw the estimated line on the accompanying scatter diagram. Does the line appear to fit the data well?
c. Find a 95% confidence interval for the slope parameter. Based on your interval, is sales revenue linearly related to advertising expenditure? Explain.
d. Would it be appropriate to use the estimated regression line in part (b) to estimate the sales for a new year in which an advertising expenditure of $10 million is planned? Why or why not?
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a Yes it does b 0 1643 1 1057 1643 1057X See graph Yes the line appears to fit the data well c 95 ...View the full answer
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Related Book For 
Applied Regression Analysis and Other Multivariable Methods
ISBN: 978-1285051086
5th edition
Authors: David G. Kleinbaum, Lawrence L. Kupper, Azhar Nizam, Eli S. Rosenberg
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