Discussion Topic

Statistical models help us describe and summarize relationships between variables. Understanding how process variables relate to each other helps businesses predict and improve performance. A marketing manager wants to understand the relationship between advertising and sales. When a new advertising campaign rolls out, they will look at the impact on total sales to determine if it is having a positive influence on sales, and if the cost is truly making a big enough difference.

Review the Advertising vs$.$ Sales chart. Note the scatter plot and the regression equation in the chart. You can review the same data and chart in Excel, if desired.

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