In the upcoming lab session you are going to work on TWO dat

In the upcoming lab session, you are going to work on TWO data sets of sales and advertising for two companies. In each data set, you have data of sales and advertising expenditure. The goal is to answer questions about how advertising impact sales. For each question, state the specific statistics or plot you are going to use.
How are you going to determine what happen if the company decides NOT to advertise? How are you going to compare WHICH company is more effective in advertising?

Solution

The data collected will tell what is the impact of advertising on the sales, This can be checked by plotting sales vs advertising on graph.

To compare compare WHICH company is more effective in advertising then mean of expenditure on advertising by both the companies will be found and their corresponding standard deviation. Then the test will be performed on the difference in means of expenditure on advertising by the two companies. This test will give us evidence whether the two are same in terms of expenditure on advertising or one is better than the other