Linear Regression Data and Sales
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Q1. A firm has the following data on Sales and Advertising. I want to estimate the following regression: sales=B0 + B1*advertising; specifically, what is the estimate of the slope term, B1.
The following 10 observations are included:
Advertising Sales
339 1103
451 921
504 1154
525 930
525 1184
529 934
543 976
549 1052
562 1266
578 1089
Q2. Using the results from Q1, forecast sales if advertising is budgeted at $550.
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The expert examines linear regression data and sales.
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Q1. A firm has the following data on Sales and Advertising. I want to estimate the following regression: sales=B0 + B1*advertising; specifically, what is the estimate of the slope term, B1.
The following 10 ...
Purchase this Solution
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