Homework Help: statistics

Posted by Karen on Wednesday, March 25, 2009 at 1:17pm.

3. The following data shows expenditures (in millions of dollars) and case (sales in millions) for seven major soft drink brands. Show a scatter diagram of the data and describe in words what it tells you. Calculate the correlation coefficient and see if it backs up the scatter diagram. Is this significant at the 5% level (ie, á=.05)? Construct the regression equation for this data. Decide how much RC Cola would make if they spend 643.8. Do the same for Canada Dry if they spend 13.8. Is it a good idea to use this regression equation for RC and Canada Dry? Why?

Brand Spending Sales
Coca-Cola 131.3 1929.2
Pepsi 92.4 1384.6
Diet Coke 60.4 811.4
Sprite 55.7 541.5
Dr. Pepper 40.2 536.9
Mountain Dew 29.0 535.6
7-Up 11.6 219.5

No one has answered this question yet.

Answer this Question

Related Questions

Statistics - Correlation Coefficient/Regression - 'm having some difficulty ...
MATH - 1.)Sales (in millions) of a company are modeled by the expression for x ...
statistics - A scatter plot would be useful for A. Showing the relative number ...
Statistics - 12.22 A regression was performed using data on 16 randomly selected...
math - The cost in millions of dollars, to remove x%of pollution in a lake is ...
math - The cost in millions of dollars, to remove x%of pollution in a lake is ...
math - A company has sales (measured in millions of dollars) of 50, 60, and 75 ...
Algebra - Two companies sell software products. In 2010. Company 1 had total ...
Econ - A firm faces the following sales function: Q=5,000-10P+40A+PA-0.8A^2-0.5P...
inventory - Suppose that the R & B Beverage Company has a soft drink product...

For Further Reading

First Name:
School Subject:
Answer: