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Regression analysis was applied between sales (y in $1,000s) and advertising (x in $100s) and the following estimated regression equation was obtained. = 80
Regression analysis was applied between sales (y in $1,000s) and advertising (x in $100s) and the following estimated regression equation was obtained. = 80 + 6.6x Based on the estimated regression line, if advertising is $5,000, find the point estimate for sales (in dollars).
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Making Hard Decisions with decision tools
Authors: Robert Clemen, Terence Reilly
3rd edition
538797576, 978-0538797573
