Fitting of simple linear regression equationcirculation is

Reference no: EM13357516

Fitting of simple linear regression equation.

Circulation is the lifeblood of the publishing business. The larger the sales of themagazine , the more it can charge advertisers. Recently, a circulation gap has apperared between the publishers reports of the magazines newsstand sales and subsequent audits by the Audit Bureau of circulations. The data in the file Circulation represents the reported and audited newsstand sales(in thousands) in 2001 for the following 10 magazines:

Magazines	reported(X)	Audited(Y)
YM	621.0	299.6
COS GIRL	359.7	207.7
ROSIE	530.0	325.0
PLAYBOY	492.1	336.3
ESQUIRE	70.5	48.6
TEEN PEOPLE	567.0	400.3
MORE	125.5	400.3
SPIN	50.6	39.1
VOGUE	353.3	268.6
ELLE	263.6	214.3

a) Construct a scatter plot.

b) Interpret the meaning of slope, b1, in this problem

c) Predict the mean audited newsstand sales for a magazine sales of 400,000

Reference no: EM13357516

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