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1. The following chart is data over an 8 month period that shows how much a company spent in advertising and the sales revenue for that month MONTH March April May June July Aug Sept Oct ADVERTISINGS 900 2700 3150 1300 3400 1500 2300 2250 SALESS 56000 89200 98500 54000 97000 56000 93000 79000 a)What is the correlation coefficient? (round to 2 decimals) describe how you utilized excel to arrive at this number (recommended) or show the formula you utilized to arrive at this answer b) Is it a positive or negative correlation? c) Would you say it is a strong correlation, weak correlation or no correlation? What is the indicator that lead you to that conclusion? d) What is the linear equation (y = mx +b form) that best approximates the relationship between advertising dollars spent(x) and sales revenuely) based on the above 8 months of data? (round to 2 decimals for the slope and the y intercept) describe how you utilized excel to arrive at this equation (recommended) or show the formula you utilized to arrive at your equation e) What sales revenue would the company expect for the following advertising spending? Round to nearest cent show calculation a) 5000 b) 2100 c) 1600 f) if you were in charge of the advertising department how much would you spend on each of the next 4 months on advertising and how and why did you arrive at your decision? Nov Jan Feb March

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