Simple regression analysis
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A company is interested in knowing which are the potential sales next year if you use $ 20,000 in advertising expenses. The company uses the information from previous years to make its sales forecast.
The data are:
Year Sales Advertising
$000 $ 000
1 15 2
2 25 3
3 45 3
4 95 5
5 130 8
6 180 9
7 240 12
8 300 14
Use the appropriate formula and presents all mathematical computation
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Solution Summary
Step by step method for computing simple regression model for a problem.
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Simple Regression Analysis
A company is interested in knowing which the potential sales are next year if you use $ 20,000 in advertising expenses. The company uses the information from previous years to make its sales forecast.
The data are:
Year Sales Advertising
$000 $ 000
1 15 2
2 25 3
3 45 3
4 95 5
5 130 8
6 180 9
7 240 12
8 300 ...
Purchase this Solution
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