This dataset below is a record of amount spent on advertising and the number of items sold. With this dataset, a predictive model can be performed to estimate the items sold from the number of cost of...


This dataset below is a record of amount spent on advertising and the number of items sold.<br>With this dataset, a predictive model can be performed to estimate the items sold from the<br>number of cost of advertising.<br>Advertising<br>Items Sold<br>($)<br>40<br>15<br>20<br>10<br>70<br>14<br>80<br>20<br>10<br>120<br>25<br>Required Tasks:<br>a. Derive the simple linear regression equation (between amount spent on advertising<br>and the number of items sold).<br>b. Interpret the slope coefficient and the intercept coefficient.<br>c. Calculate and interpret the Coefficient of Determination.<br>d. Calculate and interpret the correlation coefficient.<br>e. Predict number of Items sold when amount spent on advertising is $200 and $60.<br>

Extracted text: This dataset below is a record of amount spent on advertising and the number of items sold. With this dataset, a predictive model can be performed to estimate the items sold from the number of cost of advertising. Advertising Items Sold ($) 40 15 20 10 70 14 80 20 10 120 25 Required Tasks: a. Derive the simple linear regression equation (between amount spent on advertising and the number of items sold). b. Interpret the slope coefficient and the intercept coefficient. c. Calculate and interpret the Coefficient of Determination. d. Calculate and interpret the correlation coefficient. e. Predict number of Items sold when amount spent on advertising is $200 and $60.

Jun 08, 2022
SOLUTION.PDF

Get Answer To This Question

Related Questions & Answers

More Questions »

Submit New Assignment

Copy and Paste Your Assignment Here