Mathematics, 03.08.2021 20:40 achoward08
A national chain of consumer electronics stores had the business objective of determining the effectiveness of newspaper advertising. To promote sales, the chain relies heavily on local newspaper advertising to support its modest exposure in nationwide television commercials. A sample of 20 cities with similar populations and monthly sales totals were assigned different newspaper advertising budgets for one month. The data is used to predict the sales (in $millions) using the newspaper advertising budgets (in $thousands) observed during the study. The first few lines of data are given below:
Sales ($milions) Newspaper Advertising ($thousands)
6.14 5
6.04 5
6.21 5
6.32 5
6.42 10
Required:
Construct a scatter plot for newspaper advertising and sales.
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