1 answer

Consider the following sample data for the relationship between advertising budget and sales for Product A:...

Question:

Consider the following sample data for the relationship between advertising budget and sales for Product A:

Observation 1 2 3 4 5 6 7 8 9 10
Advertising ($) 70,000 80,000 80,000 90,000 100,000 100,000 110,000 110,000 120,000 130,000
Sales ($) 432,000 478,000 484,000 552,000 605,000 594,000 688,000 674,000 713,000 784,000

What is the predicted sales quantity for an advertising budget of $95,000?

Please round your answer to the nearest integer.


Answers

The regression equation is

Find X. Yand X as it was done in the table below 70000 80000 80000 90000 100000 100000 110000 110000 120000 130000 432000 478000 484000 552000 605000 594000 688000 674000 713000 784000 X.Y 30240000000 38240000000 38720000000 49680000000 60500000000 59400000000 75680000000 74140000000 85560000000 101920000000 4900000000 6400000000 6400000000 8100000000 10000000000 10000000000 12100000000 12100000000 14400000000 16900000000 Find the sum of every column X 990000 , Y-6004000 , ΣΧΎ-614080000000. ΣΧ_ 101300000000 Use the following equations to find a and b ΣΥΣΧ2 _ ΣΧΣΧΥ 6004000-101300 990000 614080000000 a- 8085.106 10 1013 10 . 614080000000 _ 990000-6004000 10 101300000000 (990000)- n . ΣΧΥ-ΣΧ-ΣΥ ~ 5.983 2 Substitute a and b in regression equation formula У 8085, 106 + 5.983.</p><p>Z

When Advertising budget is 95000

The predicted sales will be

Sales -8085.106 5.983 95000576470.106576470

.

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