Answered step by step
Verified Expert Solution
Question
1 Approved Answer
A company has run a linear regression analysis between advertising budget (in $1,000) and Sales (in $10,000). They have a regression line of y =
A company has run a linear regression analysis between advertising budget (in $1,000) and Sales (in $10,000). They have a regression line of y = 12.8+8.0x. If they spend $3,000 on advertising next year, what would be the predicted sales? (Answer in dollars, rounded to two decimal places, do not include the $.Pay attention to units!)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started