The sample data contains candy sales information during the last 12 weeks for an imaginary...
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Accounting
The sample data contains candy sales information during the last 12 weeks for an imaginary brand. For each week we know the sales, advertising expenditure, and the price of candy*. Based on this information please answer the following questions: 1. Calculate the correlation between sales, advertising expenditures, and price. Then explain the results. (2 points) 2. Run a regression analysis to see if we can predict sales by knowing advertising expenditures and price. Please explain the results based on the regression table. (4 points) 3. Suppose that for the next week we want to spend $30000 on advertising. Also, the price will be $4. Use the regression model you found in the previous question and predict the sales
Week Sales Advertising Expenditures Price 1 230000 15500 3 2 300000 16000 2 3 350000 20000 2 4 170000 13000 3.5 5 250000 15000 2.5 6 180000 14000 3.5 7 200000 14000 3 8 400000 21000 1.5 9 450000 25000 1 10 100000 10000 5 11 120000 11000 4.5 12 150000 11000 3.5
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