A corporation owns several companies. The strategic planner for the corporation

Question

A corporation owns several companies. The strategic planner for the corporation believes dollars spent on advertising can to some extent be a predictor of total sales dollars. As an aid in long-term planning, she gathers the following sales and advertising information from several of the companies for 2009 ($ millions). Construct a 98% confidence interval for the average value of y for the given data; use x = 20, S_e = 110.4, and the equation of the regression line, y = -46.03 + 15.29 x. Do not round the intermediate values. Round your answers to 2 decimal places.

Explanation / Answer

The sample statistic is slope, 15.29, se=110.4, t critical at df=8, and at alpha=0.01 is 3.355.

99% c.i.=15.29+-3.355*110.4=15.29+-370.391=-355.101 to 385.681

Related Questions

Navigate

• Browse (All)
• Browse A
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.