Question
In: Math
The chart below lists the sales in thousands of dollars based on the advertising budget for...
The chart below lists the sales in thousands of dollars based on
the advertising budget for that quarter. The regression equation is
Y' = 4.073 + 0.8351X. What is the correlation
coefficient?
| Advertising ($hunderds) | Sales ($thousands) | ||
| 0 | 5 | ||
| 3 | 5.5 | ||
| 4 | 7 | ||
| 5 | 7.8 | ||
| 6 | 9 | ||
| 7 | 11 | ||
Multiple Choice
-
0.775
-
0.844
-
0.926
-
1.00
Solutions
Expert Solution
| Advertising ($hunderds) (x) | Sales ($thousands)(y) | (x- mean of x) | (y - mean of y) | (x- mean of x)^2 | (y - mean of y)^2 | (x- mean of x)(y - mean of y) |
| 0 | 5 | -4.1667 | -2.5500 | 17.3611 | 6.5025 | 10.6250 |
| 3 | 5.5 | -1.1667 | -2.0500 | 1.3611 | 4.2025 | 2.3917 |
| 4 | 7 | -0.1667 | -0.5500 | 0.0278 | 0.3025 | 0.0917 |
| 5 | 7.8 | 0.8333 | 0.2500 | 0.6944 | 0.0625 | 0.2083 |
| 6 | 9 | 1.8333 | 1.4500 | 3.3611 | 2.1025 | 2.6583 |
| 7 | 11 | 2.8333 | 3.4500 | 8.0278 | 11.9025 | 9.7750 |
| Total | 30.8333 | 25.0750 | 25.7500 | |||
After calculation, Correlation coefficient is = 0.926
PLEASE LET ME KNOW IF YOU HAVE ANY DOUBTS. THANKS!!
milcah answered 9 months agoRelated Solutions
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