AdVantage, a digital marketing firm, is examining how its advertising expenditures influence sales performance. They have collected data over the past year to analyze this relationship and assess the effectiveness of their marketing strategy.
AdVantage aims to determine if there is a statistically significant relationship between advertising spend and sales revenue. They want to use linear regression analysis to quantify this relationship and calculate a 95% confidence interval for the slope of the regression line.
| Month | Advertising Spend (in $) | Sales Revenue (in $) |
|---|---|---|
| 1 | 10,000 | 50,000 |
| 2 | 15,000 | 60,000 |
| 3 | 20,000 | 70,000 |
| 4 | 25,000 | 80,000 |
| 5 | 30,000 | 90,000 |
| 6 | 35,000 | 95,000 |
| 7 | 40,000 | 100,000 |
| 8 | 45,000 | 110,000 |
| 9 | 50,000 | 120,000 |
| 10 | 55,000 | 125,000 |
| 11 | 60,000 | 130,000 |
| 12 | 65,000 | 140,000 |