UOP Relationship Between Advertisement Expenditures and Sales Revenues Project
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)
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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