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Find the equation of best linear line

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Consider the following data on sales and advertising expenditure of a major Furniture retailor store. The data is in $ millions.

Year        Advertising($)          Sales($)

1                  0.5                 45.3
2                  0.8                 53.5
3                  0.9                 67.5
4                  1.2                 93.5
5                  1.4                 108.4
6                  1.5                 120.0
7                  1.7                 143.7
8                  1.9                 158.8
9                  2.1                 175.0

a. Use the regression function of your calculator to find the equation of best linear line that fits the data.

b. Find sales if next year budget for advertising is $2.3m

c. Find the correlation coefficient and interpret.

d. Find the coefficient of determination and interpret.

Reference no: EM132652917

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