Logo
Home Study Material Contact Search
AI Chat FREE
  1. mathematics
  2. basic math
  3. consider the following sample data for the relatio

Consider the following sample data for the relationship between advertising budget and sales for Product A:...

80.2K

Verified Solution

Question

Basic Math

Consider the following sample data for the relationship betweenadvertising budget and sales for Product A: Observation 1 2 3 4 5 67 8 9 10 Advertising ($) 40,000 50,000 50,000 60,000 70,000 70,00080,000 80,000 90,000 100,000 Sales ($) 240,000 308,000 315,000358,000 425,000 440,000 499,000 494,000 536,000 604,000 What is theslope of the "least-squares" best-fit regression line? Please roundyour answer to the nearest hundredth. Note that the correct answerwill be evaluated based on the full-precision result you wouldobtain using Excel.

Answer & Explanation Solved by verified expert
3.9 Ratings (411 Votes)
Line of Regression Y on X ie Y bo b1 X X Y Xi Mean2 Yi Mean2 XiMeanYiMean 40000 240000 841000000 33087610000 5275100000 50000 308000 361000000 12973210000 2164100000 50000 315000 361000000    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Medical Sciences
1.2K views

Proteins destined for the nucleus contain a \"nuclear localization signal\" or NLS. How does the the...

Physics
1.2K views

For the following situations given the system described, which of the quantities listed should be zero?...

Physics
1.2K views

Tiny dust particles are attracted to static charges, so if you could get them from the...

Operations Management
1.2K views

How do Honda Canada manage their warehouses (e.g., talk about their picking, packing, sorting, etc.) and...

Calculus
1.2K views

Solve the following equation for over the interval [0, 2?), giving exact answers in radian...

Accounting
1.2K views

Date: July 5, Year 10 Invoice No 105 Capital Brothers Insurance Capital...

Accounting
1.2K views

slove the last part please Hickory's management is deciding whether...

Accounting
1.2K views

Stanford issues bonds dated January 1, 2021, with a par value of $249,000. The bonds'...

Accounting
1.2K views

Mazie Supply Co. uses the percent of accounts receivable method On December 31, it has...

Accounting
1.2K views

The loan below was paid in full before its due date. (a) Obtain the value...

Accounting
1.2K views

Nautical Footwear Incorporated manufactures womens boating shoes. Manufacturing overhead is assigned to production on a...

Finance
1.2K views

Using the previous closing price from the provided quote, calculate the approximate number of shares...