ECO 570 Assignment 3C BRYSON_VICTOR

ECO 570 Assignment 3C BRYSON_VICTOR - many minutes of...

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Victor Bryson ECO 570 Assignment 3C April 23, 2010 David Ding advertises on a local radio station. For the past six weeks, the manager has kept records of the number of minutes of advertising that were purchased, and the sales for that week. Week 1, 2 minutes of advertising with $1.400 in sales. Week 2, 1 minute, $920 in sales. Week 3, 3 minutes advertising, $1,100 in sales. Week 4, 5 minutes of advertising with $2,265 in sales. Week 5, 5 minutes of advertising, $2,890 in sales. Week 6, 4 minutes in advertising, $2,200 in sales. 1). What is the y-intercept, the slope, and the correlation coefficient from the above data. 2). Estimate sales if 7minutes of advertising were purchased. 3). Estimate sales if 8 minutes were purchased. 4). How
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Unformatted text preview: many minutes of advertising should David buy to attain sales of $3,000? Slope (b) = 425.875 Y intercept = 376.25 Regression equation = 376.25+425.88x Estimate sales if 7 minutes of advertising were purchased? Sales = 376.25 + 425.88x Sales = 376.25 + 425.88(7) Sales = 3357.41 Estimate sales of 8 minutes of advertising were purchased? Sales = 376.25 + 425.88x Sales = 376.25 + 425.88(8) Victor Bryson ECO 570 Assignment 3C April 23, 2010 Sales = 3783.29 How many minutes of advertising should David buy to attain sales of $3,000. 3000 = 376.25 + 425.88x 3000-376.25 = 425.88x 2623.75 = 425.88x 2623.75 / 425.88 = x x = 6.16077 minutes...
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ECO 570 Assignment 3C BRYSON_VICTOR - many minutes of...

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