Listed below is the amount of money (in billions) the U.S. spent on Prescription Drugs and the amoun
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, R2
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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Answer: The answer consists of 3 pages
Solution Format: Word Document
Solution Format: Word Document