Reference no: EM132601510
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
Question 1: Construct a scatter plot with this data.
Question 2: Do you observe a relationship between both variables?
Question 3: Use Excel to fit a linear regression line to the data. What is the fitted regression model?
Question 4: What is the slope? What does the slope tell us?Is the slope significant?
Question 5: What is the intercept? Is it meaningful?
Question 6: 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?
Question 7: Use the model to predict sales and the business spends $950,000 in advertisement. Does the model underestimate or overestimates ales?
|
Discussed bitcoin economics
: We discussed Bitcoin Economics. For this week's research paper, you need to search the Internet and explain why some businesses are accepting
|
|
Calculate the balance in Retained Earnings on December
: Retained Earnings on January 1, 2020 was $110,000. Prepare closing entries on December 31, 2020. Calculate the balance in Retained Earnings on December
|
|
What is the definition of fair value
: Determine What is the definition of fair value? What is the definition of revenue? What is the definition of comprehensive income?
|
|
What is business model and revenue model
: What is the business model and revenue model? How does the company's website, headquarters, and/or storefronts reflect the culture and values of the company?
|
|
What is the intercept
: Use the model to predict sales and the business spends $950,000 in advertisement. Does the model underestimate or overestimates ales?
|
|
How many units would the company plan to produce in July
: Houseman, Inc. anticipates sales of 45,000 units, 43,000 units, and 46,000 units. On the basis of this information, how many units would the company plan
|
|
Explain any four bond terminologies
: Explain any FOUR bond terminologies
|
|
Give an example of a company in kenya
: Give an example of a company in Kenya that has issued a bond recently, and explain its use and degree of success
|
|
Issue for the target population
: Outline a proposal for health education that can be used in a family-centered health promotion to address the issue for the target population.
|