UOP Relationship Between Advertisement Expenditures and Sales Revenues Project

Question Description

I’m working on a management question and need support to help me study.

Answer the following IN YOUR OWN WORDS. Respond to each of the following in a minimum of 175 words each. It will be run thru a checker, thanks.

Models help us describe and summarize relationships between variables. Understanding how process variables relate to each other helps businesses predict and improve performance. For example, a marketing manager might be interested in modeling the relationship between advertisement expenditures and sales revenues.

Consider the dataset below and respond to the questions that follow:

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 intercept? Is it meaningful?

***there is no additional info, thanks***

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