THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
A sales manager is interested in determining the relationship between the amount spent on advertising and total sales.The manager collects data for the past 24 months and runs a regression of sales on advertising expenditures.The results are presented below but,unfortunately,some values identified by asterisks are missing.
SUMMARY OUTPUT
-Correlation analysis is used to determine the:
A)strength of the relationship between x and y.
B)least squares estimates of the regression parameters.
C)predicted value of y for a given value of x.
D)forecast value of a particular dependent variable.

Question

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
A sales manager is interested in determining the relationship between the amount spent on advertising and total sales.The manager collects data for the past 24 months and runs a regression of sales on advertising expenditures.The results are presented below but,unfortunately,some values identified by asterisks are missing.
SUMMARY OUTPUT 
-Correlation analysis is used to determine the:
A)strength of the relationship between x and y. 
B)least squares estimates of the regression parameters. 
C)predicted value of y for a given value of x. 
D)forecast value of a particular dependent variable.

Quizplus · Accepted Answer

Correlation analysis is used to determine the strength of the relationship between two variables, in this case, the amount spent on advertising and total sales.