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Question
The marketing department for a major manufacturer tracks sales and advertising expenditures each month. Data from the past nine months and regression output appear in the following table. Interpret the equation coefficients and the values for the coefficient of determination and the correlation coefficient.
| Month | Sales (units) | Advertising ($1,000) |
| 1 | 86,010 | 25 |
| 2 | 134,697 | 40 |
| 3 | 202,025 | 65 |
| 4 | 141,180 | 45 |
| 5 | 217,086 | 70 |
| 6 | 178,399 | 55 |
| 7 | 156,975 | 50 |
| 8 | 113,155 | 35 |
| 9 | 191,901 | 60 |
Created by POM-QM for Windows
Answer
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Q:
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Q:
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13