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The correlation coefficient between sales revenue and advertising spending is the square root of R-squared value.
The correlation coefficient is the square root of correlation of determination
So, it is the sqrt(0.8767) = 0.936 ( 3 decimal)
Answer: Correlation coefficient between sales revenue and advertising spending: 0.936
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QUESTION 23 A sales manager for an advertising agency believes that there is a relationship between the number of contacts that a sales person makes and the amount of the sales dollars earned. A regression analysis shows the following results: Coefficients Standard Error T Stat P-value Intercept -12 201 6.560 -1.860 0.100 Number of Contacts 2.195 0.176 12.505 0.000 What is the standard error of the slope? -0.176 6.560 -12.201 12.50
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