Problem: David Ding advertises on a local radio station. For the past six weeks, the manager has kept records of the number of minutes of advertising that were purchased, and the sales for that week. Week 1, 2 minutes of advertising with $1.400 in sales. Week 2, 1 minute, $920 in sales. Week 3, 3 minutes advertising, $1,100 in sales. Week 4, 5 minutes of advertising with $2,265 in sales. Week 5, 5 minutes of advertising, $2,890 in sales. Week 6, 4 minutes in advertising, $2,200 in sales.
1). What is the y-intercept, the slope, and the correlation coefficient from the above data.
2). Estimate sales if 7minutes of advertising were purchased.
3). Estimate sales if 8 minutes were purchased.
4). How many minutes of advertising should David buy to attain sales of $3,000?