Relationships between variables.

Respond to the following in a minimum of 175 words:

Models help us describe and summarize relationships between variables. Understanding how process variables relate to each other helps businesses predict and improve performance. For example, a marketing manager might be interested in modeling the relationship between advertisement expenditures and sales revenues.

Consider the dataset below and respond to the questions that follow:

Advertisement ($’000) Sales ($’000)
1068 4489
1026 5611
767 3290
885 4113
1156 4883
1146 5425
892 4414
938 5506
769 3346
677 3673
1184 6542
1009 5088

Construct a scatter plot with this data.
Do you observe a relationship between both variables?
Use Excel to fit a linear regression line to the data. What is the fitted regression model? (Hint: You can follow the steps outlined on page 497 of the textbook.)
What is the slope? What does the slope tell us?Is the slope significant?
What is the intercept? Is it meaningful?
What is the value of the regression coefficient,r? What is the value of the coefficient of determination, r^2? What does r^2 tell us?
Use the model to predict sales and the business spends $950,000 in advertisement. Does the model underestimates or overestimates ales?

 

 

Sample Solution

Utilitarianism is the possibility that we ought to augment in general net bliss for all interested parties and limit torment. This hypothesis says that regardless of whether you were confronted with a choice that would truly hurt yourself, assuming it would help other people more in general, you would pursue the choice that harms yourself. There are numerous popular rationalists that emphatically support utilitarianism since they say in the event that the general result is more joy, it must be the most ideal choice. A contention against this hypothesis is straightforward; the vast majority wouldn’t decide to hurt somebody that they love assuming it implies making generally speaking net joy increment. Additionally, could it really be feasible to predict each conceivable party that will be associated with the choice and precisely measure how much satisfaction or agony that will happen? By and by, I don’t think it is feasible to precisely quantify these parts of the world and for that reason I don’t uphold utilitarianism.

Kantian Deontology
Kantian Deontology is a hypothesis that instructs assuming that the result legitimizes your activity, you are ethically right. An illustration of this was imparted to us in class. The circumstance included tormenting a young lady to save a huge number of lives from a detonating bomb in a significant city. Kantian Deontology says that it is adequate to torment her in light of the fact that the result would legitimize your activity. A contention against Kantian deontology states that it is never satisfactory to hurt somebody or act shamelessly regardless of what result lies ahead. Others would contend with that assertion and say that on the off chance that you go your desired result in light of your activity, it is a legitimate and moral activity. As I would like to think, there are times when the result legitimizes the end. On account of tormenting the young lady to save a large number of lives, I concur, on account of lying and pulling off it to get your desired decision, I don’t completely accept that it is moral.

Libertarianism
Libertarianism is a political position that needs to restrict government impedance and permit individuals to be more independent. As indicated by libertarianism, tax collection from individuals is the public authority taking cash. Freedom supporters need total political opportunity and no power by any means to the state. A few potential issues and contentions against libertarianism manage the development of syndications and issues inside the market. At the point when there are no guidelines on restraining infrastructures it becomes unimaginable for there to be any rivalry. There are likewise a few in number contentions for libertarianism. An illustration of a contention for libertarianism includes our freedoms as residents and the public authority burdening and taking from individuals is ethically off-base and it abuses our privileges. I for one accept that there ought to be less government contribution than there is in our framework now however I accept the public authority needs to assume a part in the public arena and things would go to confusion without them.

Rawlsian Progressivism
Rawlsian progressivism is a hypothesis that arrangements with dissemination of things like riches and merchandise. That’s what rawls says assuming we were behind a shroud of obliviousness and we didn’t know which financial status we would fall into throughout everyday life, we would constantly attempt to expand the base and give the least level the biggest number conceivable. Evaluates and contentions against Rawlsian Radicalism express that there will continuously be huge holes in individuals’ financial status since individuals have very unique ranges of abilities and it is difficult to fill the hole genuinely. Contentions to help this hypothesis are hard to miss. On the off chance that you needed to pursue the choice you w

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