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A market study found that the sales for a firm were related to advertising expenditure, as follows: Advertising Expenditure (Kshs ‘000’) Sales (Kshs ‘000’) 0 13 1 16 2 14 3 22 4 17 5 21 6 26

A market study found that the sales for a firm were related to advertising expenditure, as follows: Advertising Expenditure (Kshs ‘000’) Sales (Kshs ‘000’) 0 13 1 16 2 14 3 22 4 17 5 21 6 26

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter4: Equations Of Linear Functions
Section4.6: Regression And Median-fit Lines
Problem 17HP
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  1. A market study found that the sales for a firm were related to advertising expenditure, as follows:

Advertising Expenditure (Kshs ‘000’)

Sales (Kshs ‘000’)

0

13

1

16

2

14

3

22

4

17

5

21

6

26

 

Required

    1. Draw a scatter diagram with the line of best fit to show the relationship. 
    1. Determine the regression line equation for estimating the sales for a given level of advertising expenditure
    2. What is the estimated sale in thousand, if no advertising expenditure is incurred? 
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