A study was done to see whether getting radio airtime and spending money on advertisements accurately predicts the number of album copies sold. A random sample of 200 artists’ albums were tracked on the number of times their songs play on the central radio station, how much money (in thousands) they spent on advertisements, as well as the number (in thousands) of album copies were sold. A record company wanted to determine if there was a positive relationship between album sales and the other two variables (money spent on advertisements and number of albums sold).

Sales, Advertisements, Airtime

330 10.256 43

120 985.685 28

360 1445.56 35

270 1188.19 33

220 574.513 44

170 568.954 19

70 471.814 20

210 537.352 22

200 514.068 21

300 174.093 40

290 1720.81 32

70 611.479 20

150 251.192 24

190 97.972 38

240 406.814 24

100 265.398 25

250 1323.29 35

210 196.65 36

280 1326.6 27

230 1380.69 33

210 792.345 33

230 957.167 28

320 1789.66 30

210 656.137 34

230 613.697 49

250 313.362 40

60 336.51 20

330 1544.9 42

150 68.954 35

150 785.692 8

180 125.628 49

80 377.925 19

180 217.994 42

130 759.862 6

320 1163.44 36

280 842.957 32

200 125.179 28

130 236.598 25

190 669.811 34

150 612.234 21

230 922.019 34

310 50 63

340 2000 31

240 1054.03 25

180 385.045 42

220 1507.97 37

40 102.568 25

190 204.568 26

290 1170.92 39

340 689.547 46

250 784.22 36

190 405.913 12

120 179.778 2

230 607.258 29

190 1542.33 33

210 1112.47 28

170 856.985 10

310 836.331 38

90 236.908 19

140 1077.86 13

300 579.321 30

340 1500 38

170 731.364 22

100 25.689 23

200 391.749 22

80 233.999 20

100 275.7 18

70 56.895 37

50 255.117 16

240 566.501 32

160 102.568 26

290 250.568 53

140 68.594 28

210 642.786 32

300 1500 24

230 102.563 37

280 756.984 30

160 51.229 19

200 644.151 47

110 15.313 22

110 243.237 10

70 256.894 1

100 22.464 1

190 45.689 39

70 724.938 8

360 1126.46 38

360 1985.12 35

300 1837.52 40

120 135.986 22

150 237.703 27

220 976.641 31

280 1452.69 19

300 1600 24

140 268.598 1

290 900.889 38

180 982.063 26

140 201.356 11

210 746.024 34

250 1132.88 55

250 1000 5

120 75.896 34

290 1351.25 37

60 202.705 13

140 365.985 23

290 305.268 54

160 263.268 18

100 513.694 2

160 152.609 11

150 35.987 30

140 102.568 22

230 215.368 36

230 426.784 37

30 507.772 9

80 233.291 2

190 1035.43 12

90 102.642 5

120 526.142 14

150 624.538 20

230 912.349 57

150 215.994 19

210 561.963 35

180 474.76 22

140 231.523 16

360 678.596 53

10 70.922 4

240 1567.55 29

270 263.598 43

290 1423.57 26

220 715.678 28

230 777.237 37

220 509.43 32

240 964.11 34

260 583.627 30

170 923.373 15

130 344.392 23

270 1095.58 31

140 100.025 21

60 30.425 28

210 1080.34 18

210 799.899 28

240 1071.75 37

210 893.355 26

200 283.161 30

140 917.017 10

90 234.568 21

120 456.897 18

100 206.973 14

360 1294.1 38

180 826.859 36

150 564.158 32

110 192.607 9

90 10.652 39

160 45.689 24

230 42.568 45

40 20.456 13

60 635.192 17

230 1002.27 32

230 1177.05 23

120 507.638 0

150 215.689 35

120 526.48 26

60 26.895 19

280 883.877 26

120 9.104 53

230 103.568 29

230 169.583 28

40 429.504 17

140 223.639 26

360 145.585 42

210 985.968 17

260 500.922 36

250 226.652 45

200 1051.17 20

150 68.093 15

250 1547.16 28

100 393.774 27

260 804.282 17

210 801.577 32

290 450.562 46

220 26.598 47

70 179.061 19

110 345.687 22

250 295.84 55

320 2271.86 31

300 1134.58 39

180 601.434 21

180 45.298 36

200 759.518 21

320 832.869 44

140 56.894 27

100 709.399 16

120 56.895 33

230 767.134 33

150 503.172 21

250 700.929 35

190 910.851 26

240 888.569 14

250 800.615 34

230 1500 11

110 785.694 20

1)

Inferential statistic(s) and p-value(s)

2)

Based on your decision, identify and explain the type of error you could be making with respect to the conclusions of the study

Question

A study was done to see whether getting radio airtime and spending money on advertisements accurately predicts the number of album copies sold. A random sample of 200 artists’ albums were tracked on the number of times their songs play on the central radio station, how much money (in thousands) they spent on advertisements, as well as the number (in thousands) of album copies were sold. A record company wanted to determine if there was a positive relationship between album sales and the other two variables (money spent on advertisements and number of albums sold).

Sales, Advertisements, Airtime

330	10.256	43
120	985.685	28
360	1445.56	35
270	1188.19	33
220	574.513	44
170	568.954	19
70	471.814	20
210	537.352	22
200	514.068	21
300	174.093	40
290	1720.81	32
70	611.479	20
150	251.192	24
190	97.972	38
240	406.814	24
100	265.398	25
250	1323.29	35
210	196.65	36
280	1326.6	27
230	1380.69	33
210	792.345	33
230	957.167	28
320	1789.66	30
210	656.137	34
230	613.697	49
250	313.362	40
60	336.51	20
330	1544.9	42
150	68.954	35
150	785.692	8
180	125.628	49
80	377.925	19
180	217.994	42
130	759.862	6
320	1163.44	36
280	842.957	32
200	125.179	28
130	236.598	25
190	669.811	34
150	612.234	21
230	922.019	34
310	50	63
340	2000	31
240	1054.03	25
180	385.045	42
220	1507.97	37
40	102.568	25
190	204.568	26
290	1170.92	39
340	689.547	46
250	784.22	36
190	405.913	12
120	179.778	2
230	607.258	29
190	1542.33	33
210	1112.47	28
170	856.985	10
310	836.331	38
90	236.908	19
140	1077.86	13
300	579.321	30
340	1500	38
170	731.364	22
100	25.689	23
200	391.749	22
80	233.999	20
100	275.7	18
70	56.895	37
50	255.117	16
240	566.501	32
160	102.568	26
290	250.568	53
140	68.594	28
210	642.786	32
300	1500	24
230	102.563	37
280	756.984	30
160	51.229	19
200	644.151	47
110	15.313	22
110	243.237	10
70	256.894	1
100	22.464	1
190	45.689	39
70	724.938	8
360	1126.46	38
360	1985.12	35
300	1837.52	40
120	135.986	22
150	237.703	27
220	976.641	31
280	1452.69	19
300	1600	24
140	268.598	1
290	900.889	38
180	982.063	26
140	201.356	11
210	746.024	34
250	1132.88	55
250	1000	5
120	75.896	34
290	1351.25	37
60	202.705	13
140	365.985	23
290	305.268	54
160	263.268	18
100	513.694	2
160	152.609	11
150	35.987	30
140	102.568	22
230	215.368	36
230	426.784	37
30	507.772	9
80	233.291	2
190	1035.43	12
90	102.642	5
120	526.142	14
150	624.538	20
230	912.349	57
150	215.994	19
210	561.963	35
180	474.76	22
140	231.523	16
360	678.596	53
10	70.922	4
240	1567.55	29
270	263.598	43
290	1423.57	26
220	715.678	28
230	777.237	37
220	509.43	32
240	964.11	34
260	583.627	30
170	923.373	15
130	344.392	23
270	1095.58	31
140	100.025	21
60	30.425	28
210	1080.34	18
210	799.899	28
240	1071.75	37
210	893.355	26
200	283.161	30
140	917.017	10
90	234.568	21
120	456.897	18
100	206.973	14
360	1294.1	38
180	826.859	36
150	564.158	32
110	192.607	9
90	10.652	39
160	45.689	24
230	42.568	45
40	20.456	13
60	635.192	17
230	1002.27	32
230	1177.05	23
120	507.638	0
150	215.689	35
120	526.48	26
60	26.895	19
280	883.877	26
120	9.104	53
230	103.568	29
230	169.583	28
40	429.504	17
140	223.639	26
360	145.585	42
210	985.968	17
260	500.922	36
250	226.652	45
200	1051.17	20
150	68.093	15
250	1547.16	28
100	393.774	27
260	804.282	17
210	801.577	32
290	450.562	46
220	26.598	47
70	179.061	19
110	345.687	22
250	295.84	55
320	2271.86	31
300	1134.58	39
180	601.434	21
180	45.298	36
200	759.518	21
320	832.869	44
140	56.894	27
100	709.399	16
120	56.895	33
230	767.134	33
150	503.172	21
250	700.929	35
190	910.851	26
240	888.569	14
250	800.615	34
230	1500	11
110	785.694	20

1)

Inferential statistic(s) and p-value(s)

2)

Based on your decision, identify and explain the type of error you could be making with respect to the conclusions of the study

Accepted Answer

Given information:

Sales
Advertisements
Airtime

330
10.256
43

120
985.685
28

360
1445.56…