MATLAB: An Introduction with Applications
6th Edition
ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
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Data on Advertising Expenditures and Revenue (each measured in thousands of dollars) was collected and Excel was used to run a
ANOVA
df | SS | MS | F | Signficance F | |
Regression | 1 | 571.4127907 | 571.4127907 | 38.03889695 | 0.003508906 |
Residual | 4 | 60.0872093 | 15.02180233 | ||
Total | 5 | 631.5 |
Coefficients | Standard Error | t Stat | P-value | |
Intercept | 32.76744186 | 2.865238148 | 11.43620187 | 0.000333583 |
Expend | 1.578488372 | 0.255933673 | 6.167568155 | 0.003508906 |
For a month where the advertising expenditure amount was 7, what is the predicted (monthly) Revenue? Round off your answer to the closest penny. To answer this question you'll need to construct the estimated regression equation from the Excel regression output.
The predicted (monthly) Revenue, given that advertising Expenditures is 7, rounded off to the closest penny,
is:
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