The following table shows the annual sales revenue of 12 firms and their expenditure on the market research. Sales revenue (£ 000) Expenditure on market research (£ 000) 24 1.2 20 0.8 18 1.1 14 0.8 19 0.9 13 0.5 25 1.3 26 1.5 30 1.4 34 1.6 24 1.2 20 0.8 1. Use your estimated regression equation in 22 to predict sales revenue if expenditure on market research is: £700. 2. Use your estimated regression equation in 22 to predict sales revenue if expenditure on market research is: £2,000.
The following table shows the annual sales revenue of 12 firms and their expenditure on the market research.
Sales revenue (£ 000) Expenditure on market research (£ 000)
24 1.2
20 0.8
18 1.1
14 0.8
19 0.9
13 0.5
25 1.3
26 1.5
30 1.4
34 1.6
24 1.2
20 0.8
1. Use your estimated regression equation in 22 to predict sales revenue if expenditure on market research is: £700.
2. Use your estimated regression equation in 22 to predict sales revenue if expenditure on market research is: £2,000.
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