Lab ProjectData set 1: Annual domestic sales and advertising of Lydia E. Pinkham Medicine Company: both in
thousands of dollars. 1907-1960. (Pankratz, 1991)
Data set 2: Advertising and sales data: 36 consecutive monthly sales and advertising expenditures of a
dietary weight control product
1)
2)
3)
4)
5)
6)
7)
Data set 1 only:
Write down the linear model (Make sure to explain
Identify the dependent, and the independent variable
Conduct a regression analysis, and cut & paste the results to your report
a. Identify estimates of β0 (Intercept) and β1 (Slope)
b. R-square
c. Standard error
Provide a line fit plot (scatter plot of the data, and the predicted y line, with the axis clearly
labeled)
Provide a histogram of the residuals
Provide a plot of residuals against the predicted y
Provide a plot of residuals over time
– Answer the following questions in complete sentences:
8) Does advertising have an impact on sales? If so, how much? Explain.
9) Does the model fit well with the data? Explain.
10) Are all the required conditions of the regression met?
11) When there is no advertising, does the company have positive sales?
– Both data sets:
12) Compare the two businesses. Which business is more effective in advertising? How much more?
Explain. (20 points)
Annual domestic sales and advertising of Lydia E. Pinkham Medicine Compan
Exported from datamarket.com
Date exported
On DataMarket
License
Provider
Source URL
Units
2014-10-26 21:26
https://datamarket.com/data/set/22t7/annual-domestic-sales-and-advertising-of-lydia-e-pinkham-medici
Unknown; please assume a restricted license (all rights reserved); contact DataMarket if you need differen
Time Series Data Library
Units
Thousands of USD
Indicator
Year
AdvertisingSales
1907
1908
1909
1910
1911
1912
1913
1914
1915
1916
1917
1918
1919
1920
1921
1922
1923
1924
1925
1926
1927
1928
1929
1930
1931
1932
1933
1934
1935
1936
1937
608
451
529
543
525
549
525
578
609
504
752
613
862
866
1016
1360
1482
1608
1800
1941
1229
1373
1611
1568
983
1046
1453
1504
807
339
562
1016
921
934
976
930
1052
1184
1089
1087
1154
1330
1980
2223
2203
2514
2726
3185
3351
3438
2917
2359
2240
2196
2111
1806
1644
1814
1770
1518
1103
1266
1938
1939
1940
1941
1942
1943
1944
1945
1946
1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
745
749
862
1034
1054
1164
1102
1145
1012
836
941
981
974
766
920
964
811
789
802
770
639
644
564
1473
1423
1767
2161
2336
2602
2518
2637
2177
1920
1910
1984
1787
1689
1866
1896
1684
1633
1657
1569
1390
1387
1289
Medicine Company: both in thousands of dollars. 1907-1960. (Pankratz, 1991)
of-lydia-e-pinkham-medicine-company-both-in-thousands-of-dollars-1907-1960-pankratz-1991#!ds=22t7!2el0&display=line
nkratz, 1991)
7!2el0&display=line
Annual domestic sales and advertising of Lydia E. Pinkham Medicine Compan
Exported from datamarket.com
Date exported
On DataMarket
License
Provider
Source URL
Units
2014-10-26 21:26
https://datamarket.com/data/set/22t7/annual-domestic-sales-and-advertising-of-lydia-e-pinkham-medici
Unknown; please assume a restricted license (all rights reserved); contact DataMarket if you need differen
Time Series Data Library
Units
Thousands of USD
Year
Indicator
Advertising
Sales
1907
1908
1909
1910
1911
1912
1913
1914
608
1016
451
921
529
934
543
976
525
930
549
1052
525
1184
578
1089
Medicine Company: both in thousands of dollars. 1907-1960. (Pankratz, 1991)
of-lydia-e-pinkham-medicine-company-both-in-thousands-of-dollars-1907-1960-pankratz-1991#!ds=22t7!2el0&display=line
Market if you need different licensing
1915
1916
1917
1918
1919
1920
1921
1922
1923
609
1087
504
1154
752
1330
613
1980
862
2223
866
2203
1016
2514
1360
2726
1482
3185
nkratz, 1991)
7!2el0&display=line
1924
1925
1926
1927
1928
1929
1930
1931
1932
1608
3351
1800
3438
1941
2917
1229
2359
1373
2240
1611
2196
1568
2111
983
1806
1046
1644
1933
1934
1935
1936
1937
1938
1939
1940
1941
1453
1814
1504
1770
807
1518
339
1103
562
1266
745
1473
749
1423
862
1767
1034
2161
1942
1943
1944
1945
1946
1947
1948
1949
1950
1054
2336
1164
2602
1102
2518
1145
2637
1012
2177
836
1920
941
1910
981
1984
974
1787
1951
1952
1953
1954
1955
1956
1957
1958
1959
766
1689
920
1866
964
1896
811
1684
789
1633
802
1657
770
1569
639
1390
644
1387
1960
564
1289
Advertising and sales data: 36 consecutive monthly sales and advertising exp
Exported from datamarket.com
Date exported
On DataMarket
License
Provider
Source URL
Units
2014-10-26 21:28
https://datamarket.com/data/set/22kw/advertising-and-sales-data-36-consecutive-monthly-sales-and-ad
Unknown; please assume a restricted license (all rights reserved); contact DataMarket if you need differen
Time Series Data Library
Units
Expenditures
Indicator
Month
0001-01
0001-02
0001-03
0001-04
0001-05
0001-06
0001-07
0001-08
0001-09
0001-10
0001-11
0001-12
0002-01
0002-02
0002-03
0002-04
0002-05
0002-06
0002-07
0002-08
0002-09
0002-10
0002-11
0002-12
0003-01
0003-02
0003-03
0003-04
0003-05
0003-06
0003-07
AdvertisingSales
12
20.5
21
15.5
15.3
23.5
24.5
21.3
23.5
28
24
15.5
17.3
25.3
25
36.5
36.5
29.6
30.5
28
26
21.5
19.7
19
16
20.7
26.5
30.6
32.3
29.5
28.3
15
16
18
27
21
49
21
22
28
36
40
3
21
29
62
65
46
44
33
62
22
12
24
3
5
14
36
40
49
7
52
0003-08
0003-09
0003-10
0003-11
0003-12
31.3
32.2
26.4
23.4
16.4
65
17
5
17
1
tive-monthly-sales-and-advertising-expenditures-of-a-dietary-weight-control-product#!ds=22kw!2ekl&display=line
Advertising and sales data: 36 consecutive monthly sales and advertising exp
Exported from datamarket.com
Date exported
On DataMarket
License
Provider
Source URL
Units
2014-10-26 21:28
https://datamarket.com/data/set/22kw/advertising-and-sales-data-36-consecutive-monthly-sales-and-ad
Unknown; please assume a restricted license (all rights reserved); contact DataMarket if you need differen
Time Series Data Library
Units
Expenditures
Month
Indicator
Advertising
Sales
0001-01
12
15
0001-02
20.5
16
0001-03
21
18
0001-04
15.5
27
0001-05
15.3
21
0001-06
23.5
49
0001-07
24.5
21
0001-08
21.3
22
d advertising expenditures of a dietary weight control product
tive-monthly-sales-and-advertising-expenditures-of-a-dietary-weight-control-product#!ds=22kw!2ekl&display=line
Market if you need different licensing
0001-09
23.5
28
0001-10
28
36
0001-11
24
40
0001-12
15.5
3
0002-01
17.3
21
0002-02
25.3
29
0002-03
25
62
0002-04
36.5
65
0002-05
36.5
46
0002-06
29.6
44
0002-07
30.5
33
0002-08
28
62
0002-09
26
22
0002-10
21.5
12
0002-11
19.7
24
0002-12
19
3
0003-01
16
5
0003-02
20.7
14
0003-03
26.5
36
0003-04
30.6
40
0003-05
32.3
49
0003-06
29.5
7
0003-07
28.3
52
0003-08
31.3
65
0003-09
32.2
17
0003-10
26.4
5
0003-11
23.4
17
0003-12
16.4
1
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