Regression analysis was applied between sales (y in $1000) and advertising (x in $100) and the following estimated regression equation was obtained. = 80 + 6.2x

Based on the above estimated regression line, if advertising is $10,000, then the point estimate for sales (in dollars) is
A) $62,080.
B) $142,000.
C) $700.
D) $700,000.

Question

Regression analysis was applied between sales (y in $1000) and advertising (x in $100) and the following estimated regression equation was obtained. ​  = 80 + 6.2x
​
Based on the above estimated regression line, if advertising is $10,000, then the point estimate for sales (in dollars) is
A) $62,080. 
B) $142,000. 
C) $700. 
D) $700,000.

Quizplus · Accepted Answer

The Answer of Regression analysis was applied between sales (y in $1000) and advertising (x in $100) and the following estimated regression equation was obtained. ​  = 80 + 6.2x
​
Based on the above estimated regression line, if advertising is $10,000, then the point estimate for sales (in dollars) is
A) $62,080. 
B) $142,000. 
C) $700. 
D) $700,000.

Regression Analysis Was Applied Between Sales (Y in $1000) and Advertising