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Advertising expenditures and sales for the last 5 quarters have been as follows: Quarter Advertising expenditures Sales 1 1 4 2 1 5 3 2 6 4 2 7 5 4 8 In quarter 3,...

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Basic Math

Advertising expenditures and sales for the last 5 quarters havebeen as follows:

QuarterAdvertising expendituresSales
114
215
326
427
548

In quarter 3, a new product was introduced that would influencesales in quarter 3. 4 and 5. The following model isestablished:

y=?1x1+?2x2+?

where y=sales, x1=advertising expenditures,x2 is a variable that is 1 when the new product isavailable and 0 otherwise, and ? is an error component. Find theleast squares estimate of ?1.

Answer & Explanation Solved by verified expert
3.9 Ratings (703 Votes)
Step 1 put the data in excelStep 2 Go to data tab    See Answer
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