The Owner of a Retail Store Randomly Selected the Following

question 105

Essay

The owner of a retail store randomly selected the following weekly data on profits and advertising cost.

a.Write down the appropriate linear relationship between advertising cost and profits.Which is the dependent variable? Which is the independent variable?
b.Calculate the least squares estimated regression line.
c.Predict the profits for a week when $200 is spent on advertising.
d.At 95% confidence,test to determine if the relationship between advertising costs and profits is statistically significant.
e.Calculate the coefficient of determination.

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Definitions:

Depression

A condition affecting mental wellness, identified by a constant feeling of sadness or a lack of enthusiasm for activities, significantly affecting one's day-to-day life.

Stresses

Psychological or physical strains and pressures that may lead to mental health issues or physical discomfort.

Demoralization

A state of feeling dejected and disheartened, often resulting from persistent failure or inability to achieve goals.

Poverty

A state or condition where an individual or community lacks the financial resources and essentials for a minimum standard of living.