Draw a scatter diagram for given data

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Reference no: EM132152286

Question 1 - Answer all parts of this question.

a) A cost accountant has derived the following data on the weekly output of standard size boxes from a factory.

154_table.png

i) Calculate the regression coefficients β^1 and β^2 for the equation Y^i - β^1+ β^2Xbefore estimating the regression model, plot the data.

ii) Intercept the regression coefficients β^1 and β^2.

b) Repeat this question by using log of each of the above variables.

Question 2 - Answer all parts of this question

The following data were given to support the theory that high protein diets reduce the fertility of people:

484_table1.png

a) Estimate the least square regression line Y = β1 + β2X for the data above.

b) Calculate the coefficient of correlation.

c) Are data o these type adequate to establish a 'cause and effect' relationship between these two variables? Can any conclusions be drawn from the result of your calculations?

Question 3 - Answer all parts of this question

To investigate the relationship between the level of advertising in local papers and the level of sales of a particular consumer product, the marketing manager of a national firm used different levels of advertising in 10 randomly selected geographic areas. The results are given in the table below:

1238_table2.png

a) Draw a scatter diagram for these data.

b) Estimate the least squares regression line Y = β1 + β2X for the data above.

c) Calculate the R2 and interpret the result.

d) Use your OLS estimates to predict the level of sales in an area in which £1000 is spent on advertising.

Reference no: EM132152286

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