Regression analysis was applied between sales (y in $1,000s) and advertising (x in $100s) and the following estimated regression equation was obtained. ŷ = 80 + 6.3x Based on the above estimated regression line, if advertising is $10,000, find the point estimate for sales (in dollars). a. $710 b. $63,080 c. $143,000 d. $710,000
Regression analysis was applied between sales (y in $1,000s) and advertising (x in $100s) and the following estimated regression equation was obtained. ŷ = 80 + 6.3x Based on the above estimated regression line, if advertising is $10,000, find the point estimate for sales (in dollars). a. $710 b. $63,080 c. $143,000 d. $710,000
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter4: Equations Of Linear Functions
Section4.6: Regression And Median-fit Lines
Problem 13PPS
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ŷ = 80 + 6.3x
Based on the above estimated regression line, if advertising is $10,000, find the point estimate for sales (in dollars).
a. $710
b. $63,080
c. $143,000
d. $710,000
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