Predict annual sales for a company

Assignment Help Basic Statistics

Reference no: EM131008935

1. What slope, part 2? If you create a regression model for estimating a student's business school GPA (on a scale of 1-5) based on his math SAT (on a scale of 200-800), is the slope most likely to be 0.01, 1, or 10? Explain.

2. Misinterpretations. An advertising agent who created a regression model using amount spent on Advertising to predict annual Sales for a company made these two state- ments. Assuming the calculations were done correctly, explain what is wrong with each interpretation.

a) My R2 of 93% shows that this linear model is appropriate.

b) If this company spends $1.5 million on advertising, then annual sales will be $10 million.

Reference no: EM131008935

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