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  3. the following set of data shows how the advertisin

The following set of data shows how the advertising budget affects its sales (both in millions...

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Statistics

The following set of data shows how the advertising budgetaffects its sales (both in millions of dollars):

Advertising. Sales

12.5148
3.755
21.6338
60994
37.6541
6.189
16.8126
41.2379

Develop the equation of the simple regression line to predictsales from advertising expenditures using these data. You will needto:

-Calculate the intercept and slope of the linear regressionformula that relates the advertising to sales.

-Calculate the value of R-squared.

-Predict the sales, in millions of dollars, if the advertisingbudget is 50, 70, 90 million dollars.

-How strong is the correlation? What is your confidence in thenumbers you calculated?

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