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

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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.

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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
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