Based on the firm's data and the regression line, complete the following. A. For these data, values for campaign cost that are less than the mean of the values for campaign cost tend to be paired with values for percentage increase in sales that are (greater than) or (less than) the mean of the values for percentage increase in sales. B. According to the regression equation, for an increase of one million dollars in advertising campaign cost, there is a corresponding increase of how many percent in sales?
Based on the firm's data and the regression line, complete the following. A. For these data, values for campaign cost that are less than the mean of the values for campaign cost tend to be paired with values for percentage increase in sales that are (greater than) or (less than) the mean of the values for percentage increase in sales. B. According to the regression equation, for an increase of one million dollars in advertising campaign cost, there is a corresponding increase of how many percent in sales?
Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter2: Exponential, Logarithmic, And Trigonometric Functions
Section2.3: Applications: Growth And Decay
Problem 16E
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Based on the firm's data and the regression line, complete the following.
A. For these data, values for campaign cost that are less than the mean of the values for campaign cost tend to be paired with values for percentage increase in sales that are (greater than) or (less than) the mean of the values for percentage increase in sales.
B. According to the regression equation, for an increase of one million dollars in advertising campaign cost, there is a corresponding increase of how many percent in sales?
Transcribed Image Text:An advertising firm wishes to demonstrate to its clients the effectiveness of the advertising campaigns it has conducted. The following bivariate data on twelve
recent campaigns, including the cost of each campaign (in millions of dollars) and the resulting percentage increase in sales following the campaign, were
presented by the firm. Based on these data, we would compute the least-squares regression line to be y = 6.16+0.19x, with x representing campaign cost
and y representing the resulting percentage increase in sales. (This line is shown below, along with a scatter plot of the data.)
Transcribed Image Text:Campaign cost, x
(in millions of dollars)
3.69
4.04
2.08
3.16
1.23
2.16
3.05
3.12
3.66
1.66
2.40
1.68
Increase in sales, y
(percent)
6.75
7.03
6.53
6.97
6.38
6.82
6.52
6.48
6.92
6.59
6.71
6.24
Increase in sales
(percent)
7.2+
7+
6.8
6.6
6.4-
6.2
6+
1.5
X
X
X
X
2.5
X
3.5
Campaign cost
(in millions of dollars)
X
X
*
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