An appliance store wants to conduct an experiment to determi…
Questions
An аppliаnce stоre wаnts tо cоnduct an experiment to determine the effect of advertising on sales revenue. The data table contains the advertising expenditure (in $100s) and sales revenue (in $100s) in the past 5 months. Below the data table, you will see the results of the regression analysis that was performed using Excel. You need to decide what the sales revenue will be with an advertising expenditure of $150, if possible. Discuss why you are able to use the regression equation to predict the sales revenue. What will be the sales revenue rounded to the nearest dollar? Support your answer. Advertising expenditure ($100s) Sales Revenue ($100s) 1 1 2 1 3 2 4 2 5 4 Coefficients Standard Error t Stat P-value Intercept -0.1 0.635085296 -0.157459164 0.88488398 X Variable 1 0.7 0.191485422 3.655630775 0.035352847
An аppliаnce stоre wаnts tо cоnduct an experiment to determine the effect of advertising on sales revenue. The data table contains the advertising expenditure (in $100s) and sales revenue (in $100s) in the past 5 months. Below the data table, you will see the results of the regression analysis that was performed using Excel. You need to decide what the sales revenue will be with an advertising expenditure of $150, if possible. Discuss why you are able to use the regression equation to predict the sales revenue. What will be the sales revenue rounded to the nearest dollar? Support your answer. Advertising expenditure ($100s) Sales Revenue ($100s) 1 1 2 1 3 2 4 2 5 4 Coefficients Standard Error t Stat P-value Intercept -0.1 0.635085296 -0.157459164 0.88488398 X Variable 1 0.7 0.191485422 3.655630775 0.035352847