A study was carried out to relate sales revenue y (in thousands of dollars) to advertising expenditure x (also in thousands of dollars) for fast-food outlets during a 3 month period. A sample of 15 outlets yieldedthe accompanying summary quantities.== 1438.30Σ - - 14.30 ΣΥ - 1438.30 Σχ2 = 13.95XΣγ2 = 140,355 Σχ= 1388.20-2401.87 -2 - 561.45Σε - γ2 = 24Σε(a) What proportion of observed variation in sales revenue can be attributed to the linear relationship between revenue and advertising expenditure? (Give the answer to three decimal places.)0.766(b) Calculate s₂ and sы. (Give the answers to four decimal places.)SeSb= 6.5718= 11.6661(c) Obtain a 90% confidence interval for b, the average change in revenue associated with a $1000 (that is, 1 unit) increase in advertising expenditure. (Give the answers to three decimal places.)(32.977×74.296× )

(a) The proportion of observed variation in sales revenue attributed to the linear relationship…

Answered: A study was carried out to relate 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.

Chapter1: Functions

Section1.2: The Least Square Line

Problem 1E

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