A regression between the sales (Y) and the monthly advertising expenditures (X) resulted in the following...
A regression between the sales (Y) and the monthly advertising expenditures (X) resulted in the following predicted regression equations:
= 10.9 + 0.23 x
One observation in the sample data set shows that one store spend $68 K in advertising with sales of $29 K . What is the predicted sales for this store?
|
$ 33 K |
||
|
$26.54 K |
||
|
$17.57 K |
||
|
$29.03 K |
Homework Answers
Here, it is given that
Y =Sales
X = Monthly advertising expenditures
The regression equation is 
If one store spend $68K in advertising with sales of $29K. i.e
The predicted sales for this store is
The predicted sales for this store is $26.54 K.
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