Quick-print firms in a large downtown business area spend most of their
advertising dollars on advertisements on bus benches. A research
project involves predicting monthly sales based on the annual amount
spent on placing ads on bus benches. A sample of quick-print firms
revealed these advertising expenses and sales.
Annual Bus Bench Advertising
($ thousands) Monthly Sales
($ thousands)
2 40
4 55
5 75
7 80
3 45
a. Draw a scatter diagram.
b. Determine the coefficient of correlation.
c. What is the coefficient of determination?
d. Compute the regression equation.
e. Estimate the monthly sales of a quick-print firm that spends $4,500
on bus bench advertisements.
f. Summarize your findings.
Statistics Homework Solutions
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