DAT 565Wk 5 Discussion Answers

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DAT 565Wk 5 Discussion Answers

Due Thursday

Due Thursday

Respond to the following in a minimum of 175 words:

• Construct a scatter plot with this data.
• Do you observe a relationship between both variables?
• Use Excel to fit a linear regression line to the data. What is the fitted regression model? (Hint: You can follow the steps outlined on page 497 of the textbook.)
• What is the slope? What does the slope tell us? Is the slope significant?
• What is the intercept? Is it meaningful?
• What is the value of the regression coefficient,r? What is the value of the coefficient of determination, r^2? What does r^2 tell us?
• Use the model to predict sales and the business spends $950,000 in advertisement. Does the model underestimate or overestimates ales?

Due Monday

Reply to at least 2 of your classmates or your faculty member. Be constructive and professional.

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DAT 565Wk 5 Discussion Answers