Answer to Question #112636 in Statistics and Probability for Setor

Question

Advertisement is a key determinant of revenue from sales in the plywood business. If the relationship between the two is specify as , where the dependent variable (Y) is sales revenue and the independent variable (X) is advertisement, use the table below to answer questions that follow.
Revenue (Sales)
100
90
80
110
60
50
55
65
40

Advertisement
10
12
8
15
18
20
25
22
30


Estimate the regression equation (8 Marks)
Interpret the parameters. ( 2 Marks)
Predict the amount of revenue that will be generated when advertisement is $40
(2 Marks)
Estimate the coefficient of determination and interpret (4 Marks)

Answer 1

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