Do you observe a relationship between both variables? What does the slope tell us? Is the slope significant? What is the intercept? Is it meaningful? What is the value of
Minimum of 175 words
- Do you observe a relationship between both variables?
- What does the slope tell us? Is the slope significant?
- What is the intercept? Is it meaningful?
- What is the value of the regression coefficient, r? What is the value of the coefficient of determination, r^2? What does r^2 tell us?
- Share a business scenario in which using a model could be beneficial.
Chart
Advertising vs. Sales
1068 1026 767 885 1156 1146 892 938 769 677 1184 1009 4489 5611 3290 4113 4883 5425 4414 5506 3346 3673 6542 5088
Data
| Advertisement ($'000) | Sales ($'000) |
| 1068 | 4489 |
| 1026 | 5611 |
| 767 | 3290 |
| 885 | 4113 |
| 1156 | 4883 |
| 1146 | 5425 |
| 892 | 4414 |
| 938 | 5506 |
| 769 | 3346 |
| 677 | 3673 |
| 1184 | 6542 |
| 1009 | 5088 |
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