Answer to Question #198978 in Statistics and Probability for Madhav jasani

Question

Nemi Mehta is owning 50 Hectares of land near Junagadh. On his Farm, he cultivates

Giloy, which is a medicinal plant in Ayurveda. The below-given table shows the sales

of ‘Giloy Vati’ that his team is preparing as per one Ayurveda script (book), and the

amount they spend on the Advertisement of it. Nemi’s problem is to analyze the effect of Advertisement on sales. Firstly, He wants to

understand the presence of a linear relationship between the sales and ‘amount spent in

advertisement’. He also wants to run a correlation and regression to know whether he

should keep spending money on Advertisements or not. If sales figures are not affected

by advertisement, he should not spend money on it.

So, take the EXCEL output of the following and write the interpretation.

 Appropriate type of Graph which can exhibit the linear relation b/w variables.

 Karl Pearson’s Correlation Coefficient

 Regression Analysis

 Graph that shows predicted v/s actual sales figures.

Answer 1

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