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 ($ millions).
|
Advertising
|
Sales
|
|
12.5
|
148
|
|
3.7
|
55
|
|
21.6
|
338
|
|
60.0
|
994
|
|
37.6
|
541
|
|
6.1
|
89
|
|
16.8
|
126
|
|
41.2
|
379
|
Develop the equation of the simple regression line to predict sales from advertising expenditures using these data.