Week 3 Question (10 marks) In seeking to determine how influential advertising is, the management of...
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) 3 5 7 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)
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Week 3 Question (10 marks) In seeking to determine how
influential advertising is, the management of...
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Are employees who work more hours per week less satisfied with
their job? Data was collected from a random sample of 22 employees
at a company on the following variables:
Job satisfaction (measures 0 to 100)
Total hours worked per week
Coefficients
Standard Error
intercept
120.7223
16.8721
X variable 1
-1.2033
0.3188
(a)Construct a 95% confidence interval estimate of the
population mean job satisfaction for employees who works 55 hours
per week. The sample mean total hours worked...
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