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A marketing analyst wants to examine the relationship between sales (in $1,000s) and advertising (in $100s) for firms in the food and beverage industry
A marketing analyst wants to examine the relationship between sales (in $1,000s) and advertising (in $100s) for firms in the food and beverage industry and collects monthly data for 25 firms. He estimates the model: Sales =B0 +B1 Advertising + . The following ANOVA table shows a portion of the regression results. df SS Regression 1 78.88 Residual 23 503.86 MS F 78.88 3.6 21.91 Total 24 Intercept Advertising Coefficients 38.5 582.74 Standard Error t-stat p-value 14.22 2.707 0.0055 2.72 1.59 -1.711 0.06 Which of the following is the predicted Sales for a firm with Advertising of $440?
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