Question

A regression analysis between sales (in $1000) and advertising (in $100) resulted in the following least squares line: yhat = 75 + 6x. This implies that if advertising is $800 (i.e. x=8), then the predicted amount of sales (in dollars) is: Hint: Multiply from the equation by $1000. $4,875 $123,000 $487,500 $12,300

Name: a regression analysis between sales in 1000 and advertising in 100 resulted in the following least squares line yhat 75 6x this implies that if advertising is 800 ie x8 then the predicted am 95654
Uploaded: 2022-11-03T12:26:43-08:00
Duration: 2 min 27 s
Channel: Sri K
Description: a regression analysis between sales in 1000 and advertising in 100 resulted in the following least squares line yhat 75 6x this implies that if advertising is 800 ie x8 then the predicted am 95654

          A regression analysis between sales (in $1000) and advertising (in $100) resulted in the following least squares line: yhat = 75 + 6x. This implies that if advertising is $800 (i.e. x=8), then the predicted amount of sales (in dollars) is: Hint: Multiply from the equation by $1000.

$4,875
$123,000
$487,500
$12,300

Added by Sherry F.

Elementary Statistics a Step by Step Approach

Allan G. Bluman 9th Edition

Instant Answer

Solved by Expert Sri K

11/03/2022

Step 1

Here, $\hat{y}$ represents the predicted sales in $1000, and $x$ represents the advertising budget in $100. Show more…

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A regression analysis between sales (in $1000) and advertising (in $100) resulted in the following least squares line: yhat = 75 + 6x. This implies that if advertising is $800 (i.e. x=8), then the predicted amount of sales (in dollars) is: Hint: Multiply from the equation by $1000. $4,875 $123,000 $487,500 $12,300