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Economics 2 Pages

Regression Equation

Question
  1. 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

25

34

39

32

22

30

43

31

    1. Data shown is from file Exercise_7_1.xlsx.
    2. Estimate the regression line for sales on spots.
    3. Test whether the slope is significantly different from zero, using α = 0.10.
    4. Compute S (the standard error of estimate) and R2 (the coefficient of determination) and interpret the results.
    5. The company has reserved 20 spots for Week Nine. Forecast the sales and construct a 90 percent prediction interval.
    6. 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

Y

25

34

39

32

22

30

43

31

X̄=11.5

Ȳ=32

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