A regression analysis between sales (in $1,000) and advertising (in $) resulted in the following least squares line y=80,000+5x . This implies that an increase of $1 in advertising is expected to result in an increase of _______ in sales. A. $5 B. $5,000 C. $8,000 D. $85,000

A regression analysis between sales (in $1,000) and advertising (in $) resulted in the following least squares line y=80,000+5x . This implies that an increase of $1 in advertising is expected to result in an increase of _______ in sales. A. $5 B. $5,000 C. $8,000 D. $85,000

Algebra: Structure And Method, Book 1

(REV)00th Edition

ISBN:9780395977224

Author:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole

Publisher:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole

Chapter1: Introduction To Algebra

Section1.9: Opposites And Absolute Values

Problem 9MRE

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Question

A regression analysis between sales (in $1,000) and advertising (in $) resulted in the following least squares line

y=80,000+5x

. This implies that an increase of $1 in advertising is expected to result in an increase of _______ in sales.

A. $5
B. $5,000
C. $8,000
D. $85,000

Definition Definition Statistical method that estimates the relationship between a dependent variable and one or more independent variables. In regression analysis, dependent variables are called outcome variables and independent variables are called predictors.

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