Question: CHAPTER FORECASTING - MANAGEMENT SCIENCE 2. You want to study the relationship between the monthly e-commerce sales and the online advertising costs. You have the

CHAPTER FORECASTING - MANAGEMENT SCIENCE

CHAPTER FORECASTING - MANAGEMENT SCIENCE 2. You

2. You want to study the relationship between the monthly e-commerce sales and the online advertising costs. You have the survey results for 7 online stores for the last year. The following table represents the survey results from the 7 online stores. DS Seewoo X * CM X bane A Notice www.intelspot.com interession-complet Online Monthly Online Advertising Store commerce Sales Dollars (1000 s) in 1000 s) 1 368 17 2 340 15 3 665 28 4 954 5 5 331 13 6 556 22 7 376 13 We can see that there is a positive relationship between the monthlye- commerce sales (Y) and online advertising costs 0. Tango.com I Type here to search correlation means that the values of the dependent OL... 1500 200 a) Use manual calculation to develop the regression equation that best represent the relationship. (6 marks) b) What is the value of sales if the advertising cost is 6000? (2 marks)

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