Wk 5, dat 565: dq

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APA format

175 -265 words

Cite at least one (1) peer-reviewed reference

See attached scatter plot

Respond to the following:

  • Do you observe a relationship between both variables?
  • 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? 
  • Share a business scenario in which using a model could be beneficial.

Chart

Advertising vs. Sales

1068 1026 767 885 1156 1146 892 938 769 677 1184 1009 4489 5611 3290 4113 4883 5425 4414 5506 3346 3673 6542 5088

Data

Advertisement ($’000)  Sales ($’000)
1068 4489
1026 5611
767 3290
885 4113
1156 4883
1146 5425
892 4414
938 5506
769 3346
677 3673
1184 6542
1009 5088
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