Plot the scattergraph for the data. (ii) Use the data, to develop a regression equation relating advertising expenditure to membership. (iii) Estimate the membership if $40 000 is spent on advertising.
| YEAR | ADVERTISING EXPENDITURE ($000) | MEMBERSHIP SUBCRIPTIONS |
| 2013 | 51 | 62 |
| 2014 | 58 | 68 |
| 2015 | 62 | 66 |
| 2016 | 65 | 66 |
| 2017 | 68 | 67 |
| 2018 | 76 | 72 |
| 2019 | 77 | 73 |
| 2020 | 78 | 72 |
| 2021 | 78 | 78 |
| 2022 | 84 | 73 |
| 2023 | 85 | 76 |
i) Plot the scattergraph for the data.
(ii) Use the data, to develop a regression equation relating advertising expenditure to membership.
(iii) Estimate the membership if $40 000 is spent on advertising.
(iv) How much must be spent on advertising to obtain a membership of 80 (000)?
(iv) What is the nature of the relationship between advertising expenditure and membership?
(v)
(vi) What are the limitations of the method used in (i)?
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(iv) How much must be spent on advertising to obtain a membership of 80 (000)?
(iv) What is the nature of the relationship between advertising expenditure and membership?
(v)
(vi) What are the limitations of the method used in (i)?
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