rporation manufactures color TV\'s. They believe that the number of color TV\'s

Question

rporation manufactures color TV's. They believe that the number of color TV's sold per month is linearly related to the amount of money spent on advertising. The number of color TV's sold (in 1000sy)& total advertising expenditure (in 1000's of S) during 8 months data below show the Kenkel 15.7.16 TV's sold (1000's) (Y-dependentvariable) ?62 50 58 64 68 64 70 72 Ad Spending (X-independent variable) 22 15 17 20 22 Use these data to find a regression equation bo +bi Xi that can predict the TV's sold from the advertising spending. Print out the results and turn them in.

Explanation / Answer

For the given data regression output is (from excell)

So regression eq. is y = -10.5 + 0.5 x

SUMMARY OUTPUT Regression Statistics Multiple R 0.937761689 R Square 0.879396985 Adjusted R Square 0.859296482 Standard Error 1.414213562 Observations 8 ANOVA df SS MS F Significance F Regression 1 87.5 87.5 43.75 0.000574933 Residual 6 12 2 Total 7 99.5 Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Intercept -10.5 4.826119411 -2.17566 0.072494 -22.30908876 1.30908876 X Variable 1 0.5 0.075592895 6.614378 0.000575 0.315030851 0.684969149

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