Question

Quick-print firms in a large downtown business area spend most of their advertising dollars on displays on bus benches. A research project involves predicting monthly sales based on the annual amount spent on placing ads on bus benches. A sample of quick-print firms revealed these advertising expenses and sales. Annual Bus Bench Advertising ($ thousands)thousands) Firm Monthly Sales 10 40 30 50 20 4 a.)Determine whether a significant linear relationship exists between these two variables using the.05 significance level b.)Determine the equation of the regression line. c.)Calculate the ANOVA table. What is the standard error of the estimate? d.)What percentage of the variation in monthly sales is explained by the annual bus bench advertising? e.) If a firm spends $6,500 on annual bus bench advertising, what do you predict their monthly sales will be? If they spend $800, what is their predicted monthly sales?

Answer 1

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