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:

Extinction Procedure

A behavioral psychology technique involving the discontinuation of reinforcements for a certain behavior, leading to its reduction or elimination.

Reinforced

Strengthened or made more effective through added support, material, or structure.

Eliminated

Refers to the removal or deletion of something, making it no longer present or effective.

Identified

Recognized or discovered to be a certain person or thing.