A group of friends were working on a student film that had a budget of $1500. They used 24% of their budget on props. How much m
2 answers:
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Answer:
a) Positive Correlation
b) 69.5
c) Base advertisement fee
Step-by-step explanation:
a) Relationship between money spent on advertising and items sold
If we spent greater amount of money on advertisement, thus, we create more awareness and thus, the number of item sold increases.
Similarly, if less money is spent on advertisement, the number of items sold will be less.
Thus, the money spent on advertisement varies directly with the number of items sold.
Thus, they have a positive relationship or a positive correlation.
b) Money spent in advertising to sell 30 items
We are given the function:
We put x = 30
Thus, the score predicted by model is 69.5 units.
c) Interpretation of 21.5
Comparing the equation to a general linear equation, we get
where m is the slope and c is the y-intercept.
y-intercept tells us the value of function when x is zero.
Thus, for the given scenario it will tell about the basic advertisement fee to be paid if we want to sell 0 products.
Comparing we get,
c = 21.5
Interpretation:
Thus, 21.5 units is the basic amount of advertisement fee that needed to be paid( the number of items sold is 0)