Identify the dependent variable and independent variable.

Question

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Answer 1

Question

Chapter 13, Problem 1SR

a.

To determine

Identify the dependent variable and independent variable.

a.

Expert Solution

Answer to Problem 1SR

The dependent variable is the ‘sales revenue’ and the independent variable is the ‘advertising expense’.

Explanation of Solution

Data on the number of times the advertisement was aired and digital camera sales are given.

Independent variable:

The variable that can be used to predict the values of other variable is called an independent variable.

Dependent variable:

The variable that can be predicted by other variables is called a response variable or a dependent variable.

Here, the variable ‘sales revenue’ can be predicted using the variable ‘advertising expense’. Therefore, the dependent variable is the ‘sales revenue’ and the independent variable is the ‘advertising expense’.

b.

To determine

Construct a scatter diagram.

b.

Expert Solution

Answer to Problem 1SR

The scatter diagram of the data is represented below:

Statistical Techniques in Business and Economics, 16th Edition, Chapter 13, Problem 1SR , additional homework tip 1

Explanation of Solution

Calculation:

The scatterplot of the data is as follows:

Software Procedure:

Step-by-step procedure to obtain the scatterplot using Mega Stat software:

In an EXCEL sheet enter the data values of x and y.
Go to Add-Ins > Mega Stat > Correlation/Regression > Scatterplot.
Enter horizontal axis as $A$1:$A$5 and vertical axis as $B$1:$B$5.
Click on OK.

The scatterplot of the data shows an increasing trend.

c.

To determine

Find the correlation coefficient.

c.

Expert Solution

Answer to Problem 1SR

Thus, the correlation coefficient is 0.965.

Explanation of Solution

Calculation:

Software procedure:

Step-by-step procedure to obtain the correlation matrix using Mega Stat software:

In an EXCEL sheet enter the data values of x and y.
Go to Add-Ins > Mega Stat > Correlation/Regression > Correlation matrix.
Enter Input Range as $A$1:$b$5.
Click on OK.

Output obtained using Mega Stat is given as follows:

Statistical Techniques in Business and Economics, 16th Edition, Chapter 13, Problem 1SR , additional homework tip 2

Thus, the correlation coefficient is 0.965.

d.

To determine

Interpret the strength of the correlation coefficient.

d.

Expert Solution

Explanation of Solution

From Part (c), the correlation coefficient is 0.965. Since the correlation coefficient is positive and close to 1, there is a strong positive correlation between ‘sales revenue’ and ‘advertising expense’. The correlation coefficient indicates that as the value of ‘advertising expense’ increases, the ‘sales revenue’ also increases.

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Answer 2

Question

Chapter 13, Problem 1SR

a.

To determine

Identify the dependent variable and independent variable.

a.

Expert Solution

Answer to Problem 1SR

The dependent variable is the ‘sales revenue’ and the independent variable is the ‘advertising expense’.

Explanation of Solution

Data on the number of times the advertisement was aired and digital camera sales are given.

Independent variable:

The variable that can be used to predict the values of other variable is called an independent variable.

Dependent variable:

The variable that can be predicted by other variables is called a response variable or a dependent variable.

Here, the variable ‘sales revenue’ can be predicted using the variable ‘advertising expense’. Therefore, the dependent variable is the ‘sales revenue’ and the independent variable is the ‘advertising expense’.

b.

To determine

Construct a scatter diagram.

b.

Expert Solution

Answer to Problem 1SR

The scatter diagram of the data is represented below:

Statistical Techniques in Business and Economics, 16th Edition, Chapter 13, Problem 1SR , additional homework tip 1

Explanation of Solution

Calculation:

The scatterplot of the data is as follows:

Software Procedure:

Step-by-step procedure to obtain the scatterplot using Mega Stat software:

In an EXCEL sheet enter the data values of x and y.
Go to Add-Ins > Mega Stat > Correlation/Regression > Scatterplot.
Enter horizontal axis as $A$1:$A$5 and vertical axis as $B$1:$B$5.
Click on OK.

The scatterplot of the data shows an increasing trend.

c.

To determine

Find the correlation coefficient.

c.

Expert Solution

Answer to Problem 1SR

Thus, the correlation coefficient is 0.965.

Explanation of Solution

Calculation:

Software procedure:

Step-by-step procedure to obtain the correlation matrix using Mega Stat software:

In an EXCEL sheet enter the data values of x and y.
Go to Add-Ins > Mega Stat > Correlation/Regression > Correlation matrix.
Enter Input Range as $A$1:$b$5.
Click on OK.

Output obtained using Mega Stat is given as follows:

Statistical Techniques in Business and Economics, 16th Edition, Chapter 13, Problem 1SR , additional homework tip 2

Thus, the correlation coefficient is 0.965.

d.

To determine

Interpret the strength of the correlation coefficient.

d.

Expert Solution

Explanation of Solution

From Part (c), the correlation coefficient is 0.965. Since the correlation coefficient is positive and close to 1, there is a strong positive correlation between ‘sales revenue’ and ‘advertising expense’. The correlation coefficient indicates that as the value of ‘advertising expense’ increases, the ‘sales revenue’ also increases.

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 3

Question

Chapter 13, Problem 1SR

a.

To determine

Identify the dependent variable and independent variable.

a.

Expert Solution

Answer to Problem 1SR

The dependent variable is the ‘sales revenue’ and the independent variable is the ‘advertising expense’.

Explanation of Solution

Data on the number of times the advertisement was aired and digital camera sales are given.

Independent variable:

The variable that can be used to predict the values of other variable is called an independent variable.

Dependent variable:

The variable that can be predicted by other variables is called a response variable or a dependent variable.

Here, the variable ‘sales revenue’ can be predicted using the variable ‘advertising expense’. Therefore, the dependent variable is the ‘sales revenue’ and the independent variable is the ‘advertising expense’.

b.

To determine

Construct a scatter diagram.

b.

Expert Solution

Answer to Problem 1SR

The scatter diagram of the data is represented below:

Statistical Techniques in Business and Economics, 16th Edition, Chapter 13, Problem 1SR , additional homework tip 1

Explanation of Solution

Calculation:

The scatterplot of the data is as follows:

Software Procedure:

Step-by-step procedure to obtain the scatterplot using Mega Stat software:

In an EXCEL sheet enter the data values of x and y.
Go to Add-Ins > Mega Stat > Correlation/Regression > Scatterplot.
Enter horizontal axis as $A$1:$A$5 and vertical axis as $B$1:$B$5.
Click on OK.

The scatterplot of the data shows an increasing trend.

c.

To determine

Find the correlation coefficient.

c.

Expert Solution

Answer to Problem 1SR

Thus, the correlation coefficient is 0.965.

Explanation of Solution

Calculation:

Software procedure:

Step-by-step procedure to obtain the correlation matrix using Mega Stat software:

In an EXCEL sheet enter the data values of x and y.
Go to Add-Ins > Mega Stat > Correlation/Regression > Correlation matrix.
Enter Input Range as $A$1:$b$5.
Click on OK.

Output obtained using Mega Stat is given as follows:

Statistical Techniques in Business and Economics, 16th Edition, Chapter 13, Problem 1SR , additional homework tip 2

Thus, the correlation coefficient is 0.965.

d.

To determine

Interpret the strength of the correlation coefficient.

d.

Expert Solution

Explanation of Solution

From Part (c), the correlation coefficient is 0.965. Since the correlation coefficient is positive and close to 1, there is a strong positive correlation between ‘sales revenue’ and ‘advertising expense’. The correlation coefficient indicates that as the value of ‘advertising expense’ increases, the ‘sales revenue’ also increases.

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Question

Chapter 13, Problem 1SR

a.

To determine

Identify the dependent variable and independent variable.

a.

Expert Solution

Answer to Problem 1SR

The dependent variable is the ‘sales revenue’ and the independent variable is the ‘advertising expense’.

Explanation of Solution

Data on the number of times the advertisement was aired and digital camera sales are given.

Independent variable:

The variable that can be used to predict the values of other variable is called an independent variable.

Dependent variable:

The variable that can be predicted by other variables is called a response variable or a dependent variable.

Here, the variable ‘sales revenue’ can be predicted using the variable ‘advertising expense’. Therefore, the dependent variable is the ‘sales revenue’ and the independent variable is the ‘advertising expense’.

b.

To determine

Construct a scatter diagram.

b.

Expert Solution

Answer to Problem 1SR

The scatter diagram of the data is represented below:

Statistical Techniques in Business and Economics, 16th Edition, Chapter 13, Problem 1SR , additional homework tip 1

Explanation of Solution

Calculation:

The scatterplot of the data is as follows:

Software Procedure:

Step-by-step procedure to obtain the scatterplot using Mega Stat software:

In an EXCEL sheet enter the data values of x and y.
Go to Add-Ins > Mega Stat > Correlation/Regression > Scatterplot.
Enter horizontal axis as $A$1:$A$5 and vertical axis as $B$1:$B$5.
Click on OK.

The scatterplot of the data shows an increasing trend.

c.

To determine

Find the correlation coefficient.

c.

Expert Solution

Answer to Problem 1SR

Thus, the correlation coefficient is 0.965.

Explanation of Solution

Calculation:

Software procedure:

Step-by-step procedure to obtain the correlation matrix using Mega Stat software:

In an EXCEL sheet enter the data values of x and y.
Go to Add-Ins > Mega Stat > Correlation/Regression > Correlation matrix.
Enter Input Range as $A$1:$b$5.
Click on OK.

Output obtained using Mega Stat is given as follows:

Statistical Techniques in Business and Economics, 16th Edition, Chapter 13, Problem 1SR , additional homework tip 2

Thus, the correlation coefficient is 0.965.

d.

To determine

Interpret the strength of the correlation coefficient.

d.

Expert Solution

Explanation of Solution

From Part (c), the correlation coefficient is 0.965. Since the correlation coefficient is positive and close to 1, there is a strong positive correlation between ‘sales revenue’ and ‘advertising expense’. The correlation coefficient indicates that as the value of ‘advertising expense’ increases, the ‘sales revenue’ also increases.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 13, Problem 1SR

a.

To determine

Identify the dependent variable and independent variable.

a.

Expert Solution

Answer to Problem 1SR

The dependent variable is the ‘sales revenue’ and the independent variable is the ‘advertising expense’.

Explanation of Solution

Data on the number of times the advertisement was aired and digital camera sales are given.

Independent variable:

The variable that can be used to predict the values of other variable is called an independent variable.

Dependent variable:

The variable that can be predicted by other variables is called a response variable or a dependent variable.

Here, the variable ‘sales revenue’ can be predicted using the variable ‘advertising expense’. Therefore, the dependent variable is the ‘sales revenue’ and the independent variable is the ‘advertising expense’.

b.

To determine

Construct a scatter diagram.

b.

Expert Solution

Answer to Problem 1SR

The scatter diagram of the data is represented below:

Statistical Techniques in Business and Economics, 16th Edition, Chapter 13, Problem 1SR , additional homework tip 1

Explanation of Solution

Calculation:

The scatterplot of the data is as follows:

Software Procedure:

Step-by-step procedure to obtain the scatterplot using Mega Stat software:

In an EXCEL sheet enter the data values of x and y.
Go to Add-Ins > Mega Stat > Correlation/Regression > Scatterplot.
Enter horizontal axis as $A$1:$A$5 and vertical axis as $B$1:$B$5.
Click on OK.

The scatterplot of the data shows an increasing trend.

c.

To determine

Find the correlation coefficient.

c.

Expert Solution

Answer to Problem 1SR

Thus, the correlation coefficient is 0.965.

Explanation of Solution

Calculation:

Software procedure:

Step-by-step procedure to obtain the correlation matrix using Mega Stat software:

In an EXCEL sheet enter the data values of x and y.
Go to Add-Ins > Mega Stat > Correlation/Regression > Correlation matrix.
Enter Input Range as $A$1:$b$5.
Click on OK.

Output obtained using Mega Stat is given as follows:

Statistical Techniques in Business and Economics, 16th Edition, Chapter 13, Problem 1SR , additional homework tip 2

Thus, the correlation coefficient is 0.965.

d.

To determine

Interpret the strength of the correlation coefficient.

d.

Expert Solution

Explanation of Solution

From Part (c), the correlation coefficient is 0.965. Since the correlation coefficient is positive and close to 1, there is a strong positive correlation between ‘sales revenue’ and ‘advertising expense’. The correlation coefficient indicates that as the value of ‘advertising expense’ increases, the ‘sales revenue’ also increases.

Answer 6

Chapter 13, Problem 1SR

a.

To determine

Identify the dependent variable and independent variable.

a.

Expert Solution

Answer to Problem 1SR

The dependent variable is the ‘sales revenue’ and the independent variable is the ‘advertising expense’.

Explanation of Solution

Data on the number of times the advertisement was aired and digital camera sales are given.

Independent variable:

The variable that can be used to predict the values of other variable is called an independent variable.

Dependent variable:

The variable that can be predicted by other variables is called a response variable or a dependent variable.

Here, the variable ‘sales revenue’ can be predicted using the variable ‘advertising expense’. Therefore, the dependent variable is the ‘sales revenue’ and the independent variable is the ‘advertising expense’.

Answer 7

Chapter 13, Problem 1SR

a.

To determine

Identify the dependent variable and independent variable.

Answer 8

a.

Expert Solution

Answer to Problem 1SR

The dependent variable is the ‘sales revenue’ and the independent variable is the ‘advertising expense’.

Answer 9

a.

Expert Solution

Answer 10

a.

Expert Solution

Answer 11

Expert Solution

Answer 12

Explanation of Solution

Data on the number of times the advertisement was aired and digital camera sales are given.

Independent variable:

The variable that can be used to predict the values of other variable is called an independent variable.

Dependent variable:

The variable that can be predicted by other variables is called a response variable or a dependent variable.

Here, the variable ‘sales revenue’ can be predicted using the variable ‘advertising expense’. Therefore, the dependent variable is the ‘sales revenue’ and the independent variable is the ‘advertising expense’.

Answer 13

b.

To determine

Construct a scatter diagram.

b.

Expert Solution

Answer to Problem 1SR

The scatter diagram of the data is represented below:

Statistical Techniques in Business and Economics, 16th Edition, Chapter 13, Problem 1SR , additional homework tip 1

Explanation of Solution

Calculation:

The scatterplot of the data is as follows:

Software Procedure:

Step-by-step procedure to obtain the scatterplot using Mega Stat software:

In an EXCEL sheet enter the data values of x and y.
Go to Add-Ins > Mega Stat > Correlation/Regression > Scatterplot.
Enter horizontal axis as $A$1:$A$5 and vertical axis as $B$1:$B$5.
Click on OK.

The scatterplot of the data shows an increasing trend.

Answer 14

b.

To determine

Construct a scatter diagram.

Answer 15

b.

Expert Solution

Answer to Problem 1SR

The scatter diagram of the data is represented below:

Statistical Techniques in Business and Economics, 16th Edition, Chapter 13, Problem 1SR , additional homework tip 1

Answer 16

b.

Expert Solution

Answer 17

b.

Expert Solution

Answer 18

Expert Solution

Answer 19

Explanation of Solution

Calculation:

The scatterplot of the data is as follows:

Software Procedure:

Step-by-step procedure to obtain the scatterplot using Mega Stat software:

In an EXCEL sheet enter the data values of x and y.
Go to Add-Ins > Mega Stat > Correlation/Regression > Scatterplot.
Enter horizontal axis as $A$1:$A$5 and vertical axis as $B$1:$B$5.
Click on OK.

The scatterplot of the data shows an increasing trend.

Answer 20

c.

To determine

Find the correlation coefficient.

c.

Expert Solution

Answer to Problem 1SR

Thus, the correlation coefficient is 0.965.

Explanation of Solution

Calculation:

Software procedure:

Step-by-step procedure to obtain the correlation matrix using Mega Stat software:

In an EXCEL sheet enter the data values of x and y.
Go to Add-Ins > Mega Stat > Correlation/Regression > Correlation matrix.
Enter Input Range as $A$1:$b$5.
Click on OK.

Output obtained using Mega Stat is given as follows:

Statistical Techniques in Business and Economics, 16th Edition, Chapter 13, Problem 1SR , additional homework tip 2

Thus, the correlation coefficient is 0.965.

Answer 21

c.

To determine

Find the correlation coefficient.

Answer 22

c.

Expert Solution

Answer to Problem 1SR

Thus, the correlation coefficient is 0.965.

Answer 23

c.

Expert Solution

Answer 24

c.

Expert Solution

Answer 25

Expert Solution

Answer 26

Explanation of Solution

Calculation:

Software procedure:

Step-by-step procedure to obtain the correlation matrix using Mega Stat software:

In an EXCEL sheet enter the data values of x and y.
Go to Add-Ins > Mega Stat > Correlation/Regression > Correlation matrix.
Enter Input Range as $A$1:$b$5.
Click on OK.

Output obtained using Mega Stat is given as follows:

Statistical Techniques in Business and Economics, 16th Edition, Chapter 13, Problem 1SR , additional homework tip 2

Thus, the correlation coefficient is 0.965.

Answer 27

d.

To determine

Interpret the strength of the correlation coefficient.

d.

Expert Solution

Explanation of Solution

From Part (c), the correlation coefficient is 0.965. Since the correlation coefficient is positive and close to 1, there is a strong positive correlation between ‘sales revenue’ and ‘advertising expense’. The correlation coefficient indicates that as the value of ‘advertising expense’ increases, the ‘sales revenue’ also increases.

Answer 28

d.

To determine

Interpret the strength of the correlation coefficient.

Answer 29

d.

Expert Solution

Explanation of Solution

From Part (c), the correlation coefficient is 0.965. Since the correlation coefficient is positive and close to 1, there is a strong positive correlation between ‘sales revenue’ and ‘advertising expense’. The correlation coefficient indicates that as the value of ‘advertising expense’ increases, the ‘sales revenue’ also increases.