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~I always upvote~ Business Statistics Please help me understand my study guide questions. Clearly identify each step with brief description of what/why. Also please describe
~I always upvote~ Business Statistics
Please help me understand my study guide questions. Clearly identify each step with brief description of what/why. Also please describe each exponent or have-picture doing so. Please do not write in cursive as English is my 2nd language.
A store owner analyzes the relationship between the monthly advertising budget (in $1000s) and monthly sales (in $1,000,000s). Using the data from the past year, with the advertising budget as the independent variable, the store owner finds the line of best-fit is y'=0.03x+9.27 and the standard error of the estimate is 4.31. Interpret the standard error of the estimate. The monthly sales differs by $4,310 from the line of best-fit y'=0.03x+9.27. On average, the monthly sales differs by $4.31 from the line of best- fit y=0.09x+8.23. The monthly advertising budget differs by $4.31 from the line of best- fit y=0.09x+8.23. On average, the monthly advertising budget differs by $4,310 from the line of best-fit y'=0.03x+9.27. The monthly sales differs by $4.31 from the line of best-fit y'=0.09x+8.23. On average, the monthly sales differs by $4,310 from the line of best- fit y=0.03x+9.27Step by Step Solution
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