Consider the following sample data for the relationship between advertising budget and sales for Product A:...
Consider the following sample data for the relationship between advertising budget and sales for Product A:
| Observation | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Advertising ($) | 70,000 | 80,000 | 80,000 | 90,000 | 100,000 | 100,000 | 110,000 | 110,000 | 120,000 | 130,000 |
| Sales ($) | 432,000 | 478,000 | 484,000 | 552,000 | 605,000 | 594,000 | 688,000 | 674,000 | 713,000 | 784,000 |
What is the predicted sales quantity for an advertising budget of $95,000?
Please round your answer to the nearest integer.
Homework Answers
The regression equation is
When Advertising budget is 95000
The predicted sales will be
Add Answer to:
Consider the following sample data for the relationship between
advertising budget and sales for Product A:...
Consider the following sample data for the relationship between advertising budget and sales for Product A:...
Consider the following sample data for the relationship between advertising budget and sales for Product A: Observation 1 2 3 4 5 6 7 8 9 10 Advertising ($) 70,000 80,000 80,000 90,000 100,000 100,000 110,000 110,000 120,000 130,000 Sales ($) 432,000 478,000 484,000 552,000 605,000 594,000 688,000 674,000 713,000 784,000 What is the slope of the "least-squares" best-fit regression line? Please round your answer to the nearest hundredth. Note that the correct answer will be evaluated based on the...
Consider the following sample data for the relationship between advertising budget and sales for Product A:...
Consider the following sample data for the relationship between advertising budget and sales for Product A: Observation 1 2 3 4 5 6 7 8 9 10 Advertising ($) 80,000 80,000 90,000 100,000 100,000 110,000 120,000 120,000 130,000 140,000 Sales ($) 499,000 477,000 546,000 614,000 623,000 653,000 747,000 714,000 785,000 858,000 What is the predicted sales quantity for an advertising budget of $108,000? Please round your answer to the nearest integer. Note that the correct answer will be evaluated based...
Consider the following sample data for the relationship between advertising budget and sales for Product A:...
Consider the following sample data for the relationship between advertising budget and sales for Product A: Observation 1 2 3 4 5 6 7 8 9 10 Advertising ($) 90,000 100,000 100,000 110,000 120,000 120,000 130,000 140,000 140,000 150,000 Sales ($) 535,000 626,000 625,000 674,000 712,000 725,000 809,000 832,000 845,000 919,000 What is the slope of the "least-squares" best-fit regression line?
Consider the following sample data for the relationship between advertising budget and sales for Product A:...
Consider the following sample data for the relationship between advertising budget and sales for Product A: Observation 1 2 3 4 5 6 7 8 9 10 Advertising ($) 60,000 70,000 70,000 80,000 80,000 90,000 100,000 100,000 110,000 110,000 Sales ($) 363,000 432,000 417,000 502,000 483,000 537,000 614,000 625,000 653,000 666,000 What is the slope of the "least-squares" best-fit regression line? Please round your answer to the nearest hundredth.
Consider the following sample data for the relationship between advertising budget and sales for Product A:...
Consider the following sample data for the relationship between advertising budget and sales for Product A: Observation 1 2 3 4 5 6 7 8 9 10 Advertising ($) 60,000 70,000 70,000 80,000 80,000 90,000 100,000 100,000 110,000 110,000 Sales ($) 363,000 432,000 417,000 502,000 483,000 537,000 614,000 625,000 653,000 666,000 What is the R2 coefficient of determination value for the relationship between advertising and sales? Please round your answer to the nearest hundredth. Note that the correct answer will...
Consider the following sample data for the relationship between advertising budget and sales for Product A:...
Consider the following sample data for the relationship between advertising budget and sales for Product A: Observation 1 2 3 4 5 6 7 8 9 10 Advertising ($) 50,000 60,000 60,000 70,000 70,000 80,000 90,000 90,000 100,000 110,000 Sales ($) 299,001 371,000 364,000 430,000 440,000 485,000 535,000 546,000 595,000 675,000 What is the predicted sales quantity for an advertising budget of $76,000? Please round your answer to the nearest integer. Note that the correct answer will be evaluated based...
Consider the following sample data for the relationship between advertising budget and sales for Product A:...
Consider the following sample data for the relationship between advertising budget and sales for Product A: Observation 1 2 3 4 5 6 7 8 9 10 Advertising ($) 90,000 100,000 100,000 110,000 120,000 120,000 130,000 140,000 140,000 150,000 Sales ($) 535,000 626,000 625,000 674,000 712,000 725,000 809,000 832,000 845,000 919,000 What is the slope of the "least-squares" best-fit regression line? Please round your answer to the nearest hundredth. Note that the correct answer will be evaluated based on the...
Consider the following sample data for the relationship between advertising budget and sales for Product A:...
Consider the following sample data for the relationship between advertising budget and sales for Product A: Observation 1 2 3 4 5 6 7 8 9 10 Advertising ($) 50,000 60,000 60,000 70,000 70,000 80,000 90,000 90,000 100,000 110,000 Sales ($) 299,001 371,000 364,000 430,000 440,000 485,000 535,000 546,000 595,000 675,000 What is the correlation value for the relationship between advertising and sales? Please round your answer to the nearest hundredth. Note that the correct answer will be evaluated based...
Consider the following sample data for the relationship between advertising budget and sales for Product A:...
Consider the following sample data for the relationship between advertising budget and sales for Product A: Observation 1 2 3 4 5 6 7 8 9 10 Advertising ($) 40,000 50,000 50,000 60,000 70,000 70,000 80,000 80,000 90,000 100,000 Sales ($) 239,000 315,000 311,000 363,000 432,000 438,000 493,000 486,000 535,000 603,000 What is the slope of the "least-squares" best-fit regression line? Please round your answer to the nearest hundredth. Note that the correct answer will be evaluated based on the...
Consider the following sample data for the relationship between advertising budget and sales for Product A:...
Consider the following sample data for the relationship between advertising budget and sales for Product A: Observation 1 2 3 4 5 6 7 8 9 10 Advertising ($) 30,000 30,000 40,000 50,000 50,000 50,000 60,000 70,000 80,000 80,000 Sales ($) 179,000 183,000 253,000 308,000 301,000 308,000 376,000 418,000 486,000 499,000 What is the correlation value for the relationship between advertising and sales? Please round your answer to the nearest hundredth. Note that the correct answer will be evaluated based...
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