QUESTION Advertisement is a major commercial decision. Expenses associated with advertisement tools are costly, but the
Posted: Sun Jun 05, 2022 7:23 am
- Question Advertisement Is A Major Commercial Decision Expenses Associated With Advertisement Tools Are Costly But The 1 (60.69 KiB) Viewed 35 times
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QUESTION Advertisement is a major commercial decision. Expenses associated with advertisement tools are costly, but the high costs come with hopes of sales advancement. A research study would like to examine the behavior of sales upon advertisement and decides to develop a model that uses advertisement expenditure as a predictor of sales. Data were collected from 172 different cities where advertisements were given, showing the weekly advertising expenditure and the amount of sales generated for each city (in $1000). Data are shared as .csv file with the name "hw5_advertisement expenditures_sales". Give your answers to the following eleven questions: 1. Construct a scatter plot. (5 points) 2. Report the correlation coefficient. (5 points) 3. Test the null hypothesis that advertisement expenditure and sales are uncorrelated. Interpret the result. Show the approach you use. (a=0.05) (10 points) 4. Assuming a linear relationship, use the least-squares method to determine the regression coefficients Bo and B₁? Interpret the meaning of the slope. (15 points) 5. Add the least squares line to the scatter plot. (10 points) 6. Report the coefficient of determination, R². What is your interpretation on R2? (10 points) Find the model error standard deviation (s.). (10 points) 7. 8. Find the standard error of the slope (S1). (10 points) 9. Test the claim "there is no linear relationship between advertisement expenditures and sales" with a=0.05. (10 points) 10. Predict the sales of a new city that has a weekly advertisement expenditure of $3260. (10. points) 11. What is the 95% prediction interval? (5 points)
A B D adv_expenditures (in $1000);sales (in $1000) 2 964856863 31352806 3 429605484 17324829 1 70419275 332798 1 2 486539364 20150375 1 90757584( 63170242 2 630425215 25805473 78111648(46598244 1 82369470( 50265884 2 44622349728308678 1 34129858; 423241 1 11346733( 55636024 2 50260543 37019539 1 386032104 98662376 1 023868203 26718903 2 819391251 655056 1 966535687 75894165 2 447764874 91610146 2 54026007: 22374725 1 667749643 26362801 2 475319862 34887505 2 331894159 89003181 2 663983583 15564156 1 273522735 72234917 2 89674520572894478 2 236172199 8340683 ACA 30345 Ar hw5_advertisement_expenditures_ LU E +
52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 34 75 76 7 74 77 0 A B 2 39676928 19337463 2 48449754: 91915321 2 70512962: 13502312 1 82709717 60134506 3 28832006 98200226 0 46430862; 90335655 1 48470664; 99045086 3 041181087 65127563 2510128 1 65554833 1 416806579 2633667 1 569988012 3437424 2 54559826 16861343. 1 4813961990006638 1 71824216 31739807 1 611438513 39429474 2 18898391, 85589981 2 33787179; 36375237 2 01240730: 12276459 2 29738450193398476 2 30205059 25877 1 550860405 1573658 4 84897232: 2470016 2 408461094 85246277 2 902445793 47463417 1 73462724749370766 1 45572507488991547 -.. 10000 hw5_advertisement_expenditures_ +
77 78 79 80 81 82 83 84 85 86 co co 8080 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 A B C 1 455725074 88991547 3 775635242 29992294 2 135983467 66571236 0 819076896 7352638 3 913060188 49107742 2 22866201 7927513 1 410720825 92879868 1 10435164; 43710804 2 079567909 83893013 1 307366014 59826469 1 68587923; 68625832 1 853695393 38812637 1 409522295 4995918 1 62614464 36278915 3 07687783257956505 2 64953589450349617 2 67559981: 38464928 2 7410664546723175 2 684211493 6987381 1 914442539 73398018 0 829257369 9353323 2 967357874 32336807 2 397010565 3953228 3 17105341; 89539146 0 376244664 68436718 3 447884083 91942787 DE LL F
Undo Clipboard i POSSIBLE DATA LOSS Some features might be lost if you save this workbook in M9 X ✓ fx A D G B E 3 44788408: 91942787 2 68352699: 63554764 1 605374813 25104332 2 481764555 323868 1 576298475 15653229 2 89129686424768639 2 63984394112429428 1 992451549 82386589 2 298390865 17687416 1 75126504955927658 1 06382858851571465 2 70771527: 57258606 4 69665718: 54170036 1 736890554 862312 2 42216801019443893 1 57679057: 11562729 2 35767865: 70538902 1 88702595279828453 4 21657705: 51208115 2 510859489 30311966 2 637520552 13910294 1 886335375 85396194 2 30439496; 97830391 2 11375308; 63035774 2 885444641 71464729 1 92772114: 52314377 hw5_advertisement expenditures_ Accessibility: Unavailable 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 1.20 Ready
(i) POSSIBLE DATA LOSS Some feal M9 X A B C 2 251706839 87839127 1 89966952 80047798 2 28986692489621162 3 24069523 66900826 3 05222630584964943 2 173196554 7916832 2 43117690: 23598671 2 447249174 18158531 2 77874660 3869133 2 11268019777561188 2 116431475 52537346 1 26890146: 70068836 2 420133114 2061882 9011116 3 31524419 1 996201634 70274925 2 47978711330317688 3 283943897 81385231 97991585753135681 3 271392345 24986 3 946362019 29023552 3 70531988 239645 1 941084385 39206505 3 093964577 6618557 2 46564722: 3171921 2 43289971494997406 1 464041233 6114006 hw5_advertisement expenditures 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 ACA Ready Accessibility: Unavailable D E LL G
148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 Ready Accessibility: Unavailable 77°F Mostly sunny V BIU Font Undo Clipboard POSSIBLE DATA LOSS Some features might be lost if you save this workbook in the com M10 B C D 3 705319883 239645 1 94108438 39206505 3 093964577 6618557 2 465647221 3171921 2 43289971494997406 1 46404123: 6114006 1 92678582,54932785 0 87146830(72522068 2 57855129, 18555641 3 05241441 69966507 2 02306819; 57924461 2 78572440: 52500916 2 539924145 28125191 2 73136234: 30131721 1 78626751955001068 2 59965777434654236 2 838234425 43401337 1 76195693; 3581028 1 78845524 38461494 2 13217139: 77102661 1 62068712738601112 3 16526603741749001 3 803033825 23538971 3 45485520 96903419 1 308674455 7189064 2 50740122 34069443 hw5_advertisement expenditures + > h 1|1 ||| 11 G
G9 X✓ fx C B D 1 adv_expenditures (in $1000);sales (in $1000) 2 2 964856863 31352806 3 429605484 17324829 1 704192758 332798 2 48653936 20150375 1 90757584( 63170242) 2 63042521 25805473 1 78111648(46598244 1 82369470(50265884 2 44622349: 28308678 1 34129858; 423241 1 11346733( 55636024 2 50260543 37019539 1 38603210 98662376 1 02386820: 26718903 2 81939125: 655056 1 96653568:75894165 2 44776487491610146 2 540260077 22374725 1 667749643 26362801 2 475319862 34887505 2 331894159 89003181 2 663983583 15564156 1 273522735 72234917 2 896745205 72894478 2 236172199 8340683 hw5_advertisement expenditures_ 20 21 3 4 5 6 7 8 10 11 12 13 14 15 16 17 18 19 22 23 24 25 26 27 Ready Accessibility: Unavailable 77°F Mostly su m G H