The following data set shows the weekly advertising expenditure and sales of 12 retail merchants selling face masks and beside it is the scatter diagram. 600 Cost Sales 40 385 500 20 400 25 395 400 20 365 30 475 300 50 440 40 490 200 20 420 50 560 100 40 525 25 480 0 50 510 0 10 20 30 40 50 60 Advertising Cost 1. For the equation of the regression line, find the value of bo and b₁. 2. Interpret the coefficients of the estimated regression line. 3. Find and interpret the R-square of the model. Sales

The following data set shows the weekly advertising expenditure and sales of 12 retail merchants selling face masks and beside it is the scatter diagram. 600 Cost Sales 40 385 500 20 400 25 395 400 20 365 30 475 300 50 440 40 490 200 20 420 50 560 100 40 525 25 480 0 50 510 0 10 20 30 40 50 60 Advertising Cost 1. For the equation of the regression line, find the value of bo and b₁. 2. Interpret the coefficients of the estimated regression line. 3. Find and interpret the R-square of the model. Sales

Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)

6th Edition

ISBN:9781337111348

Author:Bruce Crauder, Benny Evans, Alan Noell

Publisher:Bruce Crauder, Benny Evans, Alan Noell

Chapter3: Straight Lines And Linear Functions

Section3.4: Linear Regression

Problem 12SBE: Find the equation of the regression line for the following data set. x 1 2 3 y 0 3 4

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