Michael Latip Professor Yingying BUAD 310 Case Study 9th December 2012 Hi st ogr a m of pa ge cost Hi st ogr am of pe r cmal e 14 10 12 8 Fr e q u e
2e. Using this model with ALL the variables, provide a point estimate and an appropriate 95% interval to the retail clothing company for the amount that they should expect to pay for a fullpage ad in a magazine with a projected audience of 2,125,000 readers, 45 percent of which are male, with a median income of $50,000. Include notation and units. Interpret these results.
Michael LatipProfessor YingyingBUAD 310Case Study9thDecember 20121000008000060000400002000014121086420pagecostFrequencyHistogram of pagecost806040201086420percmaleFrequencyHistogram of percmale(Histogram of page cost)(Histogram of perc) 1600012000800040000181614121086420circFrequencyHistogram of circ350003000025000200001500014121086420medianincomeFrequencyHistogram of medianincome(Histogram of circ)(Histogram of medianincome)1a) The histograms for the page cost of an ad and the circulation are skewed to the right, which means the majority of the cost and the majority of the ad circulation fall below the mean. The distribution of the medium income is approximately normal as it follows a nice bell shaped curve. Bi modal distribution with no apparent skewness, the distribution of the percentage of men is not normal because there is a significant amount of percentages on both the left and the right side of the mean
20000150001000050000100000800006000040000200000circpagecostScatterplot of pagecost vs circ400003500030000250002000015000100000800006000040000200000medianincomepagecostScatterplot of pagecost vs medianincome9080706050403020100100000800006000040000200000percmalepagecostScatterplot of pagecost vs percmale1b) The relationship between page cost and circulation appears to have a curved relationship, not a linear one. There appear to be two possible outliers but the overall plot has a slight curve shape. There appears to be no strong linear relationship between page cost and the percent of male readers. The plot is rather scattered showing no evidence of a strong relationship. There also appears to be no strong linear relationship between page cost and median income. The plot looks as if it could possibly have a slight curved relationship but there is no strong relationship apparent.
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