MATLAB: An Introduction with Applications
6th Edition
ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
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Question
|
Advertising Year Expenditure |
Membership |
Year |
$ (000) |
Subscriptions |
2013 |
51 |
62 |
2014 |
58 |
68 |
2015 |
62 |
66 |
2016 |
65 |
66 |
2017 |
68 |
67 |
2018 |
76 |
72 |
2019 |
77 |
73 |
2020 |
78 |
72 |
2021 |
78 |
78 |
2022 |
84 |
73 |
2023 |
85 |
76 |
- Plot the scatter graph for the data.
- Use the data, to develop a regression equation relating advertising expenditure to membership.
- Estimate the membership if $40,000 is spent on advertising.
- How much must be spent on advertising to obtain a membership of 80 (000)?
- What is the nature of the relationship between advertising expenditure and membership?
- Forecast 2024 membership using an alternative method, clearly explaining the limitations of your selected method.
- What are the limitations of the method used in (1)
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Step 1: Write the given information.
VIEW Step 2: Plot the scatter graph for the data.
VIEW Step 3: Develop the regression equation relating advertising expenditure to membership.
VIEW Step 4: Estimate the membership if $40,000 is spent on advertising.
VIEW Step 5: Determine the amount of spent on advertising to obtain a membership of 80 (000).
VIEW Step 6: Determine the nature of the relationship between advertising expenditure and membership.
VIEW Step 7: Forecast 2024 membership using an alternative method.
VIEW Step 8: Determine the limitations of the method used in (1).
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