Author Question: Regression analysis was applied between sales (in $1000) and advertising (in $100) and the following ... (Read 51 times)

olgamartinez04 · **on:** Mar 25, 2023

Question 1

Regression analysis was applied between sales (in $10,000) and advertising (in $100) and the following regression function was obtained.

= 50 + 8 X

Based on the above estimated regression line if advertising is $1,000, then the point estimate for sales (in dollars) is

◦

$8,050

◦

$130

◦

$130,000

◦

$1,300,000

Question 2

Regression analysis was applied between sales (in $1000) and advertising (in $100) and the following regression function was obtained.

= 500 + 4 X

Based on the above estimated regression line if advertising is $10,000, then the point estimate for sales (in dollars) is

◦

$900

◦

$900,000

◦

$40,500

◦

$505,000

Sha · **Reply #1 on:** Mar 25, 2023

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