Answer to Question #113997 in Other for Eric Opoku

Question

The following relates to sales and advertising expenditure

Period 1 2 3 4 5
Advertising [GHS’000] 5 8 12 18 24
Sales [GHS’000] 50 75 90 105 115

(a) State the regression equation and define the variables in relation to the above data.
(b) Determine the values of the coefficients in the regression equation in (a) above using the
least squares method.
(c) If an amount if GHS30,000 is spent on advertising, what will be the likely sales?
(d) What is the correlation between the variables using the product moment correlation coefficient?
(e) State and explain three (3) uses of regression analysis in businesses.

Answer 1

Dear Eric Opoku, your question requires a lot of work, which neither of our experts is ready to perform for free. We advise you to convert it to a fully qualified order and we will try to help you. Please click the link below to proceed: Submit order