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2. A small business hires a consultant to predict the value of weekly sales of their product if their weekly advertising is increased to $900 per week. The consultant takes a record of how much the firm spent on advertising per week and the corresponding weekly sales over the past six months. The consultant writes "Over the past six months the average weekly expenditure on advertising has been $500 and average weekly sales have been $10,000. Based on the results of a simple linear regression, I predict sales will be $12,000 if $900 per week is spent on advertising." (a) What is the estimated simple regression used by the consultant to make this prediction? (b) Sketch a graph of the estimated regression line. Locate the average weekly values on the graph.

2. A small business hires a consultant to predict the value of weekly sales of their product if their weekly advertising is increased to $900 per week. The consultant takes a record of how much the firm spent on advertising per week and the corresponding weekly sales over the past six months. The consultant writes "Over the past six months the average weekly expenditure on advertising has been $500 and average weekly sales have been $10,000. Based on the results of a simple linear regression, I predict sales will be $12,000 if $900 per week is spent on advertising." (a) What is the estimated simple regression used by the consultant to make this prediction? (b) Sketch a graph of the estimated regression line. Locate the average weekly values on the graph.

Algebra & Trigonometry with Analytic Geometry
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter3: Functions And Graphs
Section3.5: Graphs Of Functions
Problem 81E
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please answer the question in the attached picture with work shown, thanks!

#2 A,B

2. A small business hires a consultant to predict the value of weekly sales of their product if their weekly advertising is increased to $900 per week. The consultant takes a record of how much the firm spent on advertising per week and the corresponding weekly sales over the past six months. The consultant writes "Over the past six months the average weekly expenditure on advertising has been $500 and average weekly sales have been $10,000. Based on the results of a simple linear regression, I predict sales will be $12,000 if $900 per week is spent on advertising." (a) What is the estimated simple regression used by the consultant to make this prediction? (b) Sketch a graph of the estimated regression line. Locate the average weekly values on the graph.
Transcribed Image Text:2. A small business hires a consultant to predict the value of weekly sales of their product if their weekly advertising is increased to $900 per week. The consultant takes a record of how much the firm spent on advertising per week and the corresponding weekly sales over the past six months. The consultant writes "Over the past six months the average weekly expenditure on advertising has been $500 and average weekly sales have been $10,000. Based on the results of a simple linear regression, I predict sales will be $12,000 if $900 per week is spent on advertising." (a) What is the estimated simple regression used by the consultant to make this prediction? (b) Sketch a graph of the estimated regression line. Locate the average weekly values on the graph.
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