Question

The following chart displays data over an 8-month period that shows how much a company spent on advertising and the sales revenue for each month. MONTH ADVERTISING $ SALES $ March 900 56000 April 2400 89000 May 3100 98000 June 1200 55000 July 3500 96000 August 1800 56000 September 2000 91000 October 1950 78000 What is the correlation coefficient? (round to 2 decimals) b) Is it a positive or negative correlation? Would you say it is a strong correlation, weak correlation, or no correlation? What is the indicator that led you to that conclusion? What is the linear equation (y = mx + b form) that best approximates the relationship between advertising dollars spent (x) and sales revenue (y) based on the above 8 months of data? (round to 2 decimals for the slope and the y-intercept) What sales revenue would the company expect for the following advertising spending? Round to the nearest cent 3000 2100 1300 If you were in charge of the advertising department, how much would you spend on each of the next 4 months on advertising and how and why did you arrive at your decision? November January February March Please give a short explanation as to how and why you came up with your advertising spending for the above 4 months.

          The following chart displays data over an 8-month period that shows how much a company spent on advertising and the sales revenue for each month.

MONTH
ADVERTISING $
SALES $
March
900
56000
April
2400
89000
May
3100
98000
June
1200
55000
July
3500
96000
August
1800
56000
September
2000
91000
October
1950
78000

What is the correlation coefficient? (round to 2 decimals)
b) Is it a positive or negative correlation?
Would you say it is a strong correlation, weak correlation, or no correlation? What is the indicator that led you to that conclusion?
What is the linear equation (y = mx + b form) that best approximates the relationship between advertising dollars spent (x) and sales revenue (y) based on the above 8 months of data? (round to 2 decimals for the slope and the y-intercept)
What sales revenue would the company expect for the following advertising spending? Round to the nearest cent
3000
2100
1300

If you were in charge of the advertising department, how much would you spend on each of the next 4 months on advertising and how and why did you arrive at your decision?
November
January
February
March

Please give a short explanation as to how and why you came up with your advertising spending for the above 4 months.

Added by Linda F.

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