a.You make the bold assumption that there is a linear relationship between number of ads and sales revenues. Find the intercept, b0, and the slope, b1, of the estimated regression equation that will minimize the sum of square residuals. b.A new advertising campaigns includes 5 ads. Based on what you calculated in part 1.a, how much sales do you expect? Respond just based on the point estimate.
a.You make the bold assumption that there is a linear relationship between number of ads and sales revenues. Find the intercept, b0, and the slope, b1, of the estimated regression equation that will minimize the sum of square residuals. b.A new advertising campaigns includes 5 ads. Based on what you calculated in part 1.a, how much sales do you expect? Respond just based on the point estimate.
Chapter9: Sequences, Probability And Counting Theory
Section: Chapter Questions
Problem 47RE: For the following exercises, assume two die are rolled. 47. Construct a table showing the sample...
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a.You make the bold assumption that there is a linear relationship between number of ads and sales revenues. Find the intercept, b0, and the slope, b1, of the estimated regression equation that will minimize the sum of square residuals.
b.A new advertising campaigns includes 5 ads. Based on what you calculated in part 1.a, how much sales do you expect? Respond just based on the point estimate.
Transcribed Image Text:The following six advertising campaigns show the number of ads (x) and the
resulting sales revenues (y) from each advertising campaign. Table 1 illustrates the data.
1.
TABLE 1. Sample data for sales (y) and number of ads(x)
Obs.
у
X; – x (x; – x)² yi - ỹ (X¡ – x)(y; – y)
e (yi - 7)? (ŷi – y)?
Vi – y)²
1
10
49
6 41
3
16
49
4
8 36
12
46
6.
8 43
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