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I am having trouble with this problem. Please mark your final answers in bold. An advertising firm wishes to demonstrate to its clients the effectiveness of the advertising campaigns it has conducted. The following bivariate data on 15 recent campaigns, including the cost of each campaign (denoted by x, in millions of dollars) and the resulting percentage increase in sales (denoted by y) following the campaign, were presented by the firm.
Campaign cost, x Increase in sales, y
(in millions of dollars) (percent)
3.62 6.85
3.81 6.83
1.54 6.64
1.72 6.31
3.29 6.49
2.02 6.74
2.44 6.51
2.88 6.58
2.01 6.51
1.45 6.35
3.19 6.88
4.01 7.00
The least-squares regression line for these data has a slope of approximately 0.18. Answer the following. Carry your intermediate computations to at least four decimal places, and round your answers as specified below.
1. What is the value of the y-intercept of the least-squares regression line for these data? Round your answer to at least two decimal places.
2. What is the value of the sample correlation coefficient for these data? Round your answer to at least three decimal places.
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Solution Summary
An advertising firm wishes to demonstrate to its clients the effectiveness of the advertising campaigns it has conducted. The value of the y-intercept of the least-squares regression line for these data and the value of the sample correlation coefficient for these data are determined.
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I am having trouble with this problem. Please mark your final answers in bold. An advertising firm wishes to demonstrate to its clients the effectiveness of the advertising campaigns it has conducted. The following bivariate data on 15 recent campaigns, including the cost of each campaign (denoted by x, in millions of dollars) and the resulting percentage increase in sales (denoted by y) following the campaign, were presented by the firm.
Campaign cost, x Increase in sales, y
(in millions of dollars) (percent)
3.62 6.85
3.81 6.83
1.54 6.64
1.72 6.31
3.29 6.49
2.02 6.74
2.44 6.51
2.88 6.58
2.01 6.51
1.45 6.35
3.19 ...
Purchase this Solution
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