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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 and

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 = \\\\beta 0 + \\\\beta 1 Advertising + \\\\epsi . The following ANOVA table shows a portion of the regression results.\ \ df SS MS F\ Regression 1 78.53 78.53 3.58\ Residual 23 504.02 21.91 \ Total 24 582.55 \ Coefficients Standard Error t-stat p-value\ Intercept 40.1 14.08 2.848 0.0052\ Advertising 2.88 1.52\ Which of the following is the predicted Sales for a firm with Advertising of $500?

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