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The relationship between the advertising budget (x, in $ millions) and sales (y, in $ billions) of a retailer can be expressed by the following
The relationship between the advertising budget (x, in $ millions) and sales (y, in $ billions) of a retailer can be expressed by the following regression model. The advertising budget of last year is $2 million, and the advertising budget for this year is expected to decrease by 25%, what would be the forecast for this year's sales? And what is the percent change in sales compared to last year? y = 1.6 + 0.7x Select one: O a. $2.65 billion; decreased about 13.2%. O b. $3.35 billion; increased about 10.14%. O c. $2.65 billion; decreased about 11.7%. O d. $3.35 billion; increased about 11.7%. O e. $2.75 billion; decreased about 8.3%
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