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A shoe store developed the following estimated regression equation relating sales to inventory investment and advertising expenditures. hat ( y ) = 2 1 +

A shoe store developed the following estimated regression equation relating sales to inventory investment and advertising expenditures.
hat(y)=21+10x1+7x2
where
x1= 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 b1 and b2 in this estimated regression equation.
Sales can be expected to increase by $ inventory investment is held constant. 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
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