Regression Analysis
The local grocery store wants to predict its daily sales in dollars.The manager believes that the amount of newspaper advertising significantly affects the store's sales.He randomly selects 7 days of data consisting of daily grocery store sales (in thousands of dollars)and advertising expenditures (in thousands of dollars).The Excel/MegaStat output given above summarizes the results of the regression model.
What is the estimated simple linear regression equation?
Definitions:
Curvilinear Relationships
Relationships between two variables where the strength and/or direction of the association changes over the range of the variable's value, forming a curve rather than a straight line.
Confounds
Variables that could potentially contaminate or influence the outcome of an experiment, making it hard to interpret the effects of the primary variables of interest.
Factorial Design
An experimental strategy in which factors are varied together to examine their interaction effects on a response variable.
Independent Variables
Variables that are manipulated or changed in an experiment to test their effects on dependent variables.
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