Question # 3. The following data set records the cost of advertising (in thousands of dollars)...
Question # 3. The following data set records the cost of advertising (in thousands of dollars) and the number of prescriptions written for a new drug (in thousands).
|
Cost (x) |
9 |
2 |
3 |
4 |
2 |
6 |
9 |
10 |
|
Number of prescriptions (y) |
85 |
61 |
64 |
67 |
60 |
75 |
83 |
87 |
Using the above data: (Please use Minitab for parts a, b, d)
a) A bivariate (scatter) plot for the data set. (5 points)
b) Find the correlation (r) and its associated p-value. (5 points)
c) Is there a significant relationship between the number of prescriptions written and the cost of advertising? Why or why not? (5 points)
d) Find the regression equation predicting the number of prescriptions based on cost, its associate p-value, and the coefficient of determination (R-Square). (5 points)
e) Should the regression equation be used to make predictions for the number of prescriptions written based on the cost of advertising? Why or why not? (5
points)
f) What is the best prediction for the number of prescriptions written based on advertising costs of $8000? What did you use to make your prediction? (5 points)
Homework Answers
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Question # 3. The following data set records the cost of
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code, thanks
Questions should be answered using the Answer Sheet Template with your name at the top. All relevant R codes, numeric answers and conclusions should be provided. No screenshots are required. Note, only R should be used to answer the questions, as needed. Answers should be written in the appropriate...
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Help is needed on question 1. The second picture is the data
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