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PROBLEM SOLVING. Solve the following problems. No immediate rounding. Round off final answers to three decimal places. The following data set shows the weekly advertising expenditure and sales of 12 retail merchants selling face masks. SCATTER PLOT: 600 500 400 300 200 100 0 0 10 Advertising cost (S) 20 40 20 25 20 30 50 ● 40 20 50 40 25 50 Scatter Plot 30 40 Sales (S) 385 400 395 365 475 440 490 420 560 525 480 510 50 60

PROBLEM SOLVING. Solve the following problems. No immediate rounding. Round off final answers to three decimal places. The following data set shows the weekly advertising expenditure and sales of 12 retail merchants selling face masks. SCATTER PLOT: 600 500 400 300 200 100 0 0 10 Advertising cost (S) 20 40 20 25 20 30 50 ● 40 20 50 40 25 50 Scatter Plot 30 40 Sales (S) 385 400 395 365 475 440 490 420 560 525 480 510 50 60

College Algebra
College Algebra
10th Edition
ISBN:9781337282291
Author:Ron Larson
Publisher:Ron Larson
ChapterP: Prerequisites
SectionP.6: The Rectangular Coordinate System And Graphs
Problem 2ECP
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PROBLEM SOLVING. Solve the following problems. No immediate rounding. Round off final answers to three decimal places.
PROBLEM SOLVING. Solve the following problems. No immediate rounding. Round off final answers to three decimal places. The following data set shows the weekly advertising expenditure and sales of 12 retail merchants selling face masks. SCATTER PLOT: 600 500 400 300 200 100 0 0 10 Advertising cost (S) 20 40 20 25 20 30 50 40 20 50 40 25 50 Scatter Plot 30 40 Sales (S) 385 400 395 365 475 440 490 420 560 525 480 510 : 50 60
Transcribed Image Text:PROBLEM SOLVING. Solve the following problems. No immediate rounding. Round off final answers to three decimal places. The following data set shows the weekly advertising expenditure and sales of 12 retail merchants selling face masks. SCATTER PLOT: 600 500 400 300 200 100 0 0 10 Advertising cost (S) 20 40 20 25 20 30 50 40 20 50 40 25 50 Scatter Plot 30 40 Sales (S) 385 400 395 365 475 440 490 420 560 525 480 510 : 50 60
Find the equation of the regression line. You may use Excel. 1. What is the value of b0? 2. What is the value of 1? 3. Interpret the coefficients of the estimated regression line. 4. What is the R-square of the model? 5. Interpret the R-square value. For the following values for advertising cost, is it appropriate to use the regression equation to estimate the weekly sales? If yes, what is the predicted value? If not, how come? 1. $35 2. $60
Transcribed Image Text:Find the equation of the regression line. You may use Excel. 1. What is the value of b0? 2. What is the value of 1? 3. Interpret the coefficients of the estimated regression line. 4. What is the R-square of the model? 5. Interpret the R-square value. For the following values for advertising cost, is it appropriate to use the regression equation to estimate the weekly sales? If yes, what is the predicted value? If not, how come? 1. $35 2. $60
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