Question: . Task 1 Table below shows some data from the early days of the Italian clothing company Benetton. Each row in the table shows Benetton's
. Task 1 Table below shows some data from the early days of the Italian clothing company Benetton. Each row in the table shows Benetton's sales for a year and the amount spent on advertising that year. In this case, our outcome of interest is sales-it is what we want to predict. If we use advertising as the predictor variable, we can find a linear regression model which would give estimates of the sales. Which one of the following will the best regression model? Justify your answer. Sales = 22.60 x Advertising +169.2 Sales Sales - 23.42 x Advertising + 167.7 (Million Advertising Sales - 23.10x Advertising +168.1 Year Euro) (Million Euro) 1 651 23 2 762 26 856 30 4 1,063 34 5 1,190 43 6 1,298 48 7 1,421 52 8 1,440 57 9 1,518 58 3 Tip: Calculate the Least Squares Error
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