Question 15
A regression analysis between sales (y in $1000) and advertising (x in dollars) resulted in the following equation:
= 50,000 + 6x
The above equation implies that an increase of _____.
$6 in advertising is associated with an increase of $6,000 in sales
$1 in advertising is associated with an increase of $6 in sales
$1 in advertising is associated with an increase of $56,000 in sales
$1 in advertising is associated with an increase of $6,000 in sales