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5) The marketing director of Sea World was concerned about the effectiveness of a recent advertising campaign. The Director recorded the advertising cost and the number of tickest sold ir the last eight months. The data is shown in the table below ad was sorted in ascending order y advertising cost.

5) The marketing director of Sea World was concerned about the effectiveness of a recent advertising campaign. The Director recorded the advertising cost and the number of tickest sold ir the last eight months. The data is shown in the table below ad was sorted in ascending order y advertising cost.

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.6: Summarizing Categorical Data
Problem 26PPS
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5) The marketing director of Sea World was concerned about the effectiveness of a recent advertising campaign. The Director recorded the advertising cost and the number of tickest sold ir the last eight months. The data is shown in the table below ad was sorted in ascending order ty advertising cost. Advertising cost, in thousands USD (x) 60.51 68.60 74.52 75.11 75.43 79.34 81.15 82.42 Number of tickets sold, in thousands (y) 1.22 1.57 1.98 2.19 1.75 2.03 2.38 2.23 Suppose the number of tickets sold varies linearly with the advertising cost. a) Find the Pearson's product moment correlation coefficient, r, for this data. b) Find the equation of the regression line y on x. c) The Marketing Director decides to spend $70000 on advertising next month. Use the equation of the regression line found in part (a) to estimate the number of tickets sold next month. Round your answer to the nearest hundred.
Transcribed Image Text:5) The marketing director of Sea World was concerned about the effectiveness of a recent advertising campaign. The Director recorded the advertising cost and the number of tickest sold ir the last eight months. The data is shown in the table below ad was sorted in ascending order ty advertising cost. Advertising cost, in thousands USD (x) 60.51 68.60 74.52 75.11 75.43 79.34 81.15 82.42 Number of tickets sold, in thousands (y) 1.22 1.57 1.98 2.19 1.75 2.03 2.38 2.23 Suppose the number of tickets sold varies linearly with the advertising cost. a) Find the Pearson's product moment correlation coefficient, r, for this data. b) Find the equation of the regression line y on x. c) The Marketing Director decides to spend $70000 on advertising next month. Use the equation of the regression line found in part (a) to estimate the number of tickets sold next month. Round your answer to the nearest hundred.
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