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Data on advertising expenditures and revenue (in thousands of dollars) for the Four Seasons Restaurant follow. Advertising Expenditures Revenue 20 2 33 4 45 6 40 10 53 14 54 20 55 a. Let equal advertising expenditures and y equal revenue. Use the method of least squares to develop a straight line approximation of the relationship between the two variables (to 2 decimals). + b. Test whether revenue and advertising expenditures are related at a 0.05 level of significance. Compute the following (to 2 decimals). SSE SST SSR MSR MSE

Data on advertising expenditures and revenue (in thousands of dollars) for the Four Seasons Restaurant follow. Advertising Expenditures Revenue 20 2 33 4 45 6 40 10 53 14 54 20 55 a. Let equal advertising expenditures and y equal revenue. Use the method of least squares to develop a straight line approximation of the relationship between the two variables (to 2 decimals). + b. Test whether revenue and advertising expenditures are related at a 0.05 level of significance. Compute the following (to 2 decimals). SSE SST SSR MSR MSE

Linear Algebra: A Modern Introduction
Linear Algebra: A Modern Introduction
4th Edition
ISBN:9781285463247
Author:David Poole
Publisher:David Poole
Chapter7: Distance And Approximation
Section7.3: Least Squares Approximation
Problem 29EQ
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Data on advertising expenditures and revenue (in thousands of dollars) for the Four Seasons Restaurant follow. Advertising Expenditures Revenue 1 20 2 33 45 40 10 53 14 54 20 55 a. Let z equal advertising expenditures and y equal revenue. Use the method of least squares to develop a straight line approximation of the relationship between the two variables (to 2 decimals). + b. Test whether revenue and advertising expenditures are related at a 0.05 level of significance. Compute the following (to 2 decimals). SSE SST SSR MSR MSE Compute the F test statistic (to 2 decimals). What is the p-value? Use Table 4 from Appendix B. - Select your answer - What is your conclusion? - Select your answer - c. Prepare a residual plot of y-y versus y. Use the result from part (a) to obtain the values of ŷ. Choose the correct residual plot below.
Transcribed Image Text:Data on advertising expenditures and revenue (in thousands of dollars) for the Four Seasons Restaurant follow. Advertising Expenditures Revenue 1 20 2 33 45 40 10 53 14 54 20 55 a. Let z equal advertising expenditures and y equal revenue. Use the method of least squares to develop a straight line approximation of the relationship between the two variables (to 2 decimals). + b. Test whether revenue and advertising expenditures are related at a 0.05 level of significance. Compute the following (to 2 decimals). SSE SST SSR MSR MSE Compute the F test statistic (to 2 decimals). What is the p-value? Use Table 4 from Appendix B. - Select your answer - What is your conclusion? - Select your answer - c. Prepare a residual plot of y-y versus y. Use the result from part (a) to obtain the values of ŷ. Choose the correct residual plot below.
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