The number of advertisements through TV channels and the amount of revenue (total sales) generated for Safeway Food Store products are listed below:
Products: # of Advertisements Total Sales($)
Meat 20 30
Dairy 40 60
Fish 20 40
Soda 30 60
Vegetables 10 30
Chops+Dips 10 40
Frozen Foods 20 40
Sanitary 20 50
Paper Goods 20 30
Wine and Beer 30 70
(a) Calculate r.
(b) Test the null hypothesis that ρ = −0.5 against the
alternative that ρ < −0.5 at the 0.025 level of significance.
(c) Find the equation of the regression line to predict the total sales revenue from the advertisements.
(d) Estimate the amount of revenue generated when the 22 advertisements are made.
(e) Determine the percentage of the variation (coefficient of determination) in the amount of revenue generated due to changes in the number of advertisements. Explain the meaning of coefficient of determination.
(f) Find the standard error of the estimates and explain the results
(g) Test the hypothesis of the regression coefficient at 0.01 level of significance
(h) Find the f- value