Answer the following using Microsoft Excel:
Calculate both the simple mean and the weighted mean for the average price of tickets
Plot a scatter plot for each of the following relationships: (1 between seats sold and price; and (2) seat sold and Facebook ads. What is the nature of each relationship?
Run a linear regression for each of the following relationships: (1) between seats sold and price; (2) seats sold and Facebook ads. Explain your interpretation of each regression result (evaluate multiple R, R-square, and P-value of independent variables),
Run a multiple regression for seats sold with ticket price and Facebook ads. From the multiple regression results (evaluate multiple R, R-square, and P-value of independent variables), explain your interpretation of the model.
What combination of price and unit sold yield the highest gross profit?
The CEO wants to know how many seats will be sold if we make the price for each ticket at 150 and spend 30,000 on Facebook advertising. Use the regression formula to calculate in Excel.
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Answer the following using Microsoft Excel:
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