This problem is to be solved using Minitab. Below are the results of an annual survey conducted by Video Board Tests, Inc., a New York ad-testing company, based on interviews with adults who were asked to name the most outstanding TV commercial they had seen, noticed, and liked. These retained impressions are listed along with company name and TV ad expenditures. We would be interested in determining if the number of retained impressions is linearly related to the advertising expenditures (i.e. the more spent on advertising, the higher the number of retained impressions)
Variables:
FIRM: Firm name
SPEND: TV advertising budget, 1983 ($ millions)
MILIMP: Millions of retained impressions per week
FIRM SPEND MILIMP
MILLER LITE 50.1 32.1
PEPSI 74.1 99.6
STROH'S 19.3 11.7
FED'L EXPRESS 22.9 21.9
BURGER KING 82.4 60.8
COCO-COLA 40.1 78.6
MC DONALD'S 185.9 92.4
MCI 26.9 50.7
DIET COLA 20.4 21.4
FORD 166.2 40.1
LEVI'S 27.0 40.8
BUD LITE 45.6 10.4
ATT/BELL 154.9 88.9
CALVIN KLEIN 5.0 12.0
WENDY'S 50.1 29.2
POLAROID 26.9 38.0
SHASTA 5.0 10.0
MEOW MIX 7.6 12.3
OSCAR MEYER 9.2 23.4
CREST 32.4 71.1
KIBBLES 'N BITS 6.1 4.4
Perform a complete regression analysis using Minitab to determine whether or not the simple linear regression model is appropriate for this data. Your analysis must include a written analysis (i.e. interpretation of the output) in addition to the Minitab output (this does not mean simply writing notes on the output). For any tests, use α = 0.05. Attach your Minitab output when handing in your assignment.