Regression Equation

Question

Estimating Regression Equations

A soft-drink company monitored its television advertising over an eight-week period to evaluate the effect on sales (in millions of dollars) with respect to the number of 30-second spots aired in that week. Estimate the regression equation. The data are as follows:

Week	1	2	3	4	5	6	7	8
No. of Spots Sales	8	12	16	10	8	12	16	10
No. of Spots Sales	25	34	39	32	22	30	43	31

Data shown is from file Exercise_7_1.xlsx.
Estimate the regression line for sales on spots.
Test whether the slope is significantly different from zero, using α = 0.10.
Compute S (the standard error of estimate) and R2 (the coefficient of determination) and interpret the results.
The company has reserved 20 spots for Week Nine. Forecast the sales and construct a 90 percent prediction interval.
Comment on the level of accuracy this analysis provides.

Solution

Title: Regression Equation
Length: 2 pages (550 Words)
Style: APA

Preview

Regression Equation

Y=b₀+b₁x

Week		1	2	3	4	5	6	7	8
No. of Spots Sales	X	8	12	16	10	8	12	16	10
No. of Spots Sales	Y	25	34	39	32	22	30	43	31

X̄=11.5

Ȳ=32

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