1. Consider the following sample data for the relationship between advertising budget and sales for Product A:
Observation 1 2 3 4 5 6 7 8 9 10
Advertising ($)100,00 110,000 110,000 120,000 130,000 130,000 140,000 150,000 150,000 160,000 Sales ($)603,000 676,000 655,00 748,000 796,000 785,000 858,000 891,000 935,000 980,000
What is the slope of the "least-squares" best-fit regression line?
Please round your answer to the nearest hundredth.
Note that the correct answer will be evaluated based on the full-precision result you would obtain using Excel.
2. Consider the following sample data for the relationship between advertising budget and sales for Product A:
Observation 1 2 3 4 5 6 7 8 9 10
Advertising ($)90,000 100,000 100,000 110,000 120,000 120,000 130,000 140,000 140,000 150,00
Sales ($)535,000 626,000 625,000 674,000 712,000 725,000 809,000 832,000 845,000 919,000
What is the predicted sales quantity for an advertising budget of $119,000?
Please round your answer to the nearest integer.
Note that the correct answer will be evaluated based on the full-precision result you would obtain using Excel.
3. Consider the following sample data for the relationship between advertising budget and sales for Product A:
Observation 1 2 3 4 5 6 7 8 9 10
Advertising ($)90,000 100,000 100,000 110,000 120,000 120,000 130,000 140,000 140,000 150,00
Sales ($)535,000 626,000 625,000 674,000 712,000 725,000 809,000 832,000 845,000 919,000
What is the correlation value for the relationship between advertising and sales?
Please round your answer to the nearest hundredth.
Note that the correct answer will be evaluated based on the full-precision result you would obtain using Excel.