Stats Solutions

(Steps Shown) Listed below is the amount of money (in billions) the U.S. spent on Prescription Drugs and the amount (in billions) pharmaceutical companies

Question: Listed below is the amount of money ( in billions) the U.S. spent on Prescription Drugs and the amount ( in billions) pharmaceutical companies spent to market medications between 1997 and 2005. Conduct a linear regression to determine if a relationship exists between the two variables. Interpret the intercept, the slope and the coefficient of determination, R 2

Is the relationship significant?

Drug Expenditures Drug Marketing
Y Dependent Variable X Independent Variable
1997 1.1 77.6
1998 1.3 88.4
1999 104.7 1.8
2000 120.9 2.5
2001 138.7 2.7
2002 158.2 2.6
2003 175.2 3.3
2004 190.3 4
2005 201.7 4.2
# of Observations 9 9
Mean: 121.3444 20.7889
Median: 138.7 3.3
Standard Deviation: 74.9320 35.3815

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Solution: The downloadable solution consists of 3 pages
Deliverable: Word Document


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