A shoe store developed the following estimated regression equation relating sales to inventory investment and advertising expenditures.ý = 23 + 12x, + 6x2wherex, = inventory investment ($1,000s)X2 = advertising expenditures ($1,000s)y = sales ($1,000s).(a) Predict the sales (in dollars) resulting from a $14,000 investment in inventory and an advertising budget of $11,000.(b) Interpret b, and b, in this estimated regression equation.Sales can be expected to increase by $for every dollar increase in inventory investment when advertising expenditure is held constant. Sales can beexpected to increase by $for every dollar increase in advertising expenditure when inventory investment is held constant.

Solution: Given The estimated regression equation is y^= 23+12x1+6x2 Where x1= Inventory…

A shoe store developed the following estimated regression equation relating sales to inventory investment and advertising expenditures. ŷ = 23 + 12x, + 6x2 where x, = inventory investment ($1,000s) X2 = advertising expenditures ($1,000s) y = sales ($1,000s). (a) Predict the sales (in dollars) resulting from a $14,000 investment in inventory and an advertising budget of $11,000. 2$ (b) Interpret b, and b, in this estimated regression equation. Sales can be expected to increase by $ for every dollar increase in inventory investment when advertising expenditure is held constant. Sales can be expected to increase by $ for every dollar increase in advertising expenditure when inventory investment is held constant.

A shoe store developed the following estimated regression equation relating sales to inventory investment and advertising expenditures. ŷ = 23 + 12x, + 6x2 where x, = inventory investment ($1,000s) X2 = advertising expenditures ($1,000s) y = sales ($1,000s). (a) Predict the sales (in dollars) resulting from a $14,000 investment in inventory and an advertising budget of $11,000. 2$ (b) Interpret b, and b, in this estimated regression equation. Sales can be expected to increase by $ for every dollar increase in inventory investment when advertising expenditure is held constant. Sales can be expected to increase by $ for every dollar increase in advertising expenditure when inventory investment is held constant.

College Algebra

7th Edition

ISBN:9781305115545

Author:James Stewart, Lothar Redlin, Saleem Watson

Publisher:James Stewart, Lothar Redlin, Saleem Watson

Chapter1: Equations And Graphs

Section1.3: Lines

Problem 92E

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