User Account

All Pages

What is the fitted regression model

Assignment Help Business Management
Reference no: EM132755684

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? 

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?

Reference no: EM132755684

Questions Cloud

Explain role of the human resource department : Explain the role of the human resource department and how they can help you.
Compute becker manufacturing overhead budget for june : Compute Becker's manufacturing overhead budget for May and June. The company's variable overhead is $2.50 per unit produced and its fixed overhead is $3,000.
What balance of allowance for doubtful account at december : Customer accounts written off as uncollectible during 2019 30,000. What is the balance of allowance for doubtful account at December 31,2019
What will be the total amount credited to capital account : What will be the total amount credited to the Capital account of each partner when the Income Summary account is closed
What is the fitted regression model : What is the fitted regression model? What is the slope? What does the slope tell us? Is the slope significant?
Determine what firm additional profit contribution from sale : The average collection period is expected, What is the firm's additional profit contribution from sales under the proposed relaxation of credit standards?
Manufacturers play in determining retailer success : Discuss the role that manufacturers play in determining a retailer's success.
Define and describe the principles of ethical leadership : Define and describe the principles of ethical leadership. Which two of the five principles covered in Chapter 16 do you think are the most important, and why?
Find what cost of marginal investment in accounts receivable : The average collection period is expected to increase to 40 days. What is the cost of marginal investments in accounts receivable under the proposed plan?

Reviews

Write a Review

Business Management Questions & Answers

  Caselet on michael porter’s value chain management

The assignment in management is a two part assignment dealing 1.Theory of function of management. 2. Operations and Controlling.

  Mountain man brewing company

Mountain Man Brewing, a family owned business where Chris Prangel, the son of the president joins. Due to increase in the preference for light beer drinkers, Chris Prangel wants to introduce light beer version in Mountain Man. An analysis into the la..

  Mountain man brewing company

Mountain Man Brewing, a family owned business where Chris Prangel, the son of the president joins. An analysis into the launch of Mountain Man Light over the present Mountain Man Lager.

  Analysis of the case using the doing ethics technique

Analysis of the case using the Doing Ethics Technique (DET). Analysis of the ethical issue(s) from the perspective of an ICT professional, using the ACS Code of  Conduct and properly relating clauses from the ACS Code of Conduct to the ethical issue.

  Affiliations and partnerships

Affiliations and partnerships are frequently used to reach a larger local audience? Which options stand to avail for the Hotel manager and what problems do these pose.

  Innovation-friendly regulations

What influence (if any) can organizations exercise to encourage ‘innovation-friendly' regulations?

  Effect of regional and corporate cultural issues

Present your findings as a group powerpoint with an audio file. In addition individually write up your own conclusions as to the effects of regional cultural issues on the corporate organisational culture of this multinational company as it conducts ..

  Structure of business plan

This assignment shows a structure of business plan. The task is to write a business plane about a Diet Shop.

  Identify the purposes of different types of organisations

Identify the purposes of different types of organisations.

  Entrepreneur case study for analysis

Entrepreneur Case Study for Analysis. Analyze Robin Wolaner's suitability to be an entrepreneur

  Forecasting and business analysis

This problem requires you to apply your cross-sectional analysis skills to a real cross-sectional data set with the goal of answering a specific research question.

  Educational instructional leadership

Prepare a major handout on the key principles of instructional leadership

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd