Reference no: EM132735563
Models help us describe and summarize relationships between variables. Understanding how process variables relate to each other helps businesses predict and improve performance. For example, a marketing manager might be interested in modeling the relationship between advertisement expenditures and sales revenues.
Consider the dataset below and respond to the questions that follow:
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
Construct a scatter plot with this data.
Do you observe a relationship between both variables?
Use Excel to fit a linear regression line to the data. What is the fitted regression model? (Hint: You can follow the steps outlined on page 497 of the textbook.)
What is the slope? 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?
Use the model to predict sales and the business spends $950,000 in advertisement. Does the model underestimate or overestimates ales?
|
Supply chain integration is major contributing factor
: Supply chain integration is a major contributing factor to organizational success.
|
|
Explain the ethical issues arising in this situation
: The audit junior currently working with you on the review engagement told you that, yesterday, Explain the ethical issues arising in this situation
|
|
Supply and demand features of the chinese flower market
: What are the supply and demand features of the Chinese flower market and how do they differ from around the world?
|
|
What is the most she should pay for the bond
: If Anna strongly believes that inflation will rise by 1% during the next six months, what is the most she should pay for the bond, assuming annual interest
|
|
Advertisement expenditures and sales revenues
: Marketing manager might be interested in modeling the relationship between advertisement expenditures and sales revenues.
|
|
How much are total assets
: Retained earnings $46,000, Rent expense $18,000, Revenues $101,000, and Salary expense $60,000. How much are total assets
|
|
Explain the importance of developing new product
: Explain the importance of developing new product and describe the six categories of new product. Explain the importance of market segmentation in marketing
|
|
Describe the leadership style
: Describe the leadership style or styles (transformational, transactional, visionary, servant, etc.) communicated by the manager in your current organization
|
|
Prepare the adjusting entry to record bonds at fair value
: Prepare the adjusting entry to record the bonds at fair value at December 31, 2020. The Fair Value Adjustment account has a debit balance of $1,000
|