Week 1 Question (10 marks) Based on the following table, calculate the three (3) measures of central locations and briefly discuss what each statistic tells you. 23 30 25 28 36 26 38 45 52 22 33 24 29 41 39 38 48 55 44 19 18 31 34 45 75 61 72 29 27 55 Week 2 Question (10 marks) Refer to the table below. Consider the relationship between the number of houses sold (Y) and the mortgage rate (X). The values of X and Y for twelve (12) months are shown in the table below. M-Rates 8 9.5 7.5 11 8.5 10 10.5 7 7.5 11 9 8 Houses sold 188 145 181 137 157 148 140 203 188 144 150 166 Based on that, a. Calculate the coefficient of correlation between the number of houses sold and the mortgage rate. (6 marks) b. What does the correlation coefficient tell you about the relationship between the level of house sales and mortgage rates based on the calculation? (4 Marks) Week 3 Question (10 marks) In seeking to determine how influential advertising is, the management of a recently established retail chain collected data on sales revenue and advertising expenditure from its' stores over the last ten (10) weeks. The table below shows the data collected: Advertising Expenditure ($ 000) 5 6 3.5 4 4.5 7 7.5 8.5 Sales ($ 000) 50 250 700 450 75 150 200 750 800 1,100 a. If they are going to run a linear regression, identify which variable should be the independent variable and which should be the dependent variable in a regression equation. (2 marks) b. Estimate the slope and intercept coefficients of the linear regression model. (6 marks) c. If advertising expenditure is equal to $9,000, estimate the total sales income. (2 marks)