In the fifth phase of the business strategy formulation, you decide to focus on elements of the organization’s advertising efficiency. Specifically, you want to determine an ideal location (or locations) for the billboards your organization uses for advertising.

 

You decide to create a measure (regression analysis) of the relationship between revenue and billboard location. You changed the location of the billboard every day for 28 days and collected the data below:

 

Date Daily \ Revenue (in thousands) \ Distance the Billboard is from your Store (in miles)

1-May \ 123 \ 60

2-May \ 145 \ 38

3-May \ 131 \ 43

4-May \ 168 \ 30

5-May \ 152 \ 32

6-May \ 178 \ 24

7-May \ 184 \ 15

8-May \ 137 \ 34

9-May \ 204 \ 3

10-May \ 179 \ 25

11-May \ 163 \ 28

12-May \ 195 \ 14

13-May \ 163 \ 26

14-May \ 208 \ 7

15-May \ 183 \ 18

16-May \ 217 \ 4

17-May \ 104 \ 87

18-May \ 119 \ 72

19-May \ 176 \ 22

20-May \ 118 \ 75

21-May \ 129 \ 54

22-May \ 193 \ 12

23-May \ 185 \ 17

24-May \ 102 \ 82

25-May \ 173 \ 21

26-May \ 189 \ 18

27-May \ 206 \ 5

28-May \ 183 \ 16

 

To continue your work by addressing the following:

 

1.     Create a scatter plot using this data in Microsoft Excel.

a.     Include the correlation and regression line.

2.     Do your findings indicate a positive or a negative correlation? Why?

3.     What is the correlation coefficient?

4.     In your own words, describe what it is and what it means or how it applies here.

 

should be at least 500 words in length in word document

Show your work in excel 

In the fifth phase of the business strategy formulation, you decide to focus on elements of the organization’s advertising efficiency. Specifically, you want to determine an ideal location (or locations) for the billboards your organization uses for advertising.

 

You decide to create a measure (regression analysis) of the relationship between revenue and billboard location. You changed the location of the billboard every day for 28 days and collected the data below:

 

Date Daily \ Revenue (in thousands) \ Distance the Billboard is from your Store (in miles)

1-May \ 123 \ 60

2-May \ 145 \ 38

3-May \ 131 \ 43

4-May \ 168 \ 30

5-May \ 152 \ 32

6-May \ 178 \ 24

7-May \ 184 \ 15

8-May \ 137 \ 34

9-May \ 204 \ 3

10-May \ 179 \ 25

11-May \ 163 \ 28

12-May \ 195 \ 14

13-May \ 163 \ 26

14-May \ 208 \ 7

15-May \ 183 \ 18

16-May \ 217 \ 4

17-May \ 104 \ 87

18-May \ 119 \ 72

19-May \ 176 \ 22

20-May \ 118 \ 75

21-May \ 129 \ 54

22-May \ 193 \ 12

23-May \ 185 \ 17

24-May \ 102 \ 82

25-May \ 173 \ 21

26-May \ 189 \ 18

27-May \ 206 \ 5

28-May \ 183 \ 16

 

To continue your work by addressing the following:

 

1.     Create a scatter plot using this data in Microsoft Excel.

a.     Include the correlation and regression line.

2.     Do your findings indicate a positive or a negative correlation? Why?

3.     What is the correlation coefficient?

4.     In your own words, describe what it is and what it means or how it applies here.

 

should be at least 500 words in length