Advertisement ($’000) Sales ($’000)
1068 4489
1026 5611
767 3290
885 4113
1156 4883
1146 5425
892 4414
938 5506
769 3346
677 3673
1184 6542
1009 5088
1. Construct a scatter plot with this data. Do you observe a relationship between both variables?
2. What is the slope? What does the slope tell us?Is the slope significant?
3. What is the value of the regression coefficient,r? What is the value of the coefficient of determination, r^2? What does r^2 tell us?