Regression analysis was applied between sales data (y in $1000s) and advertising data (x in $100s) and the following information was obtained. = 12 + 1.8x

N = 17
SSR = 225
SSE = 75
Sb₁ = .2683

Based on the above estimated regression equation, if advertising is $3000, then the point estimate for sales (in dollars) is

Question

Regression analysis was applied between sales data (y in $1000s) and advertising data (x in $100s) and the following information was obtained.

= 12 + 1.8x

N = 17
SSR = 225
SSE = 75
Sb₁ = .2683

Based on the above estimated regression equation, if advertising is $3000, then the point estimate for sales (in dollars) is

Quizplus · Accepted Answer

The Answer of Regression analysis was applied between sales data (y in $1000s) and advertising data (x in $100s) and the following information was obtained. = 12 + 1.8x N = 17 SSR = 225 SSE = 75 Sb₁ = .2683 Based on the above estimated regression equation, if advertising is $3000, then the point estimate for sales (in dollars) is A) $66,000. B) $5412. C) $66. D) $17,400.

Regression Analysis Was Applied Between Sales Data (Y in $1000s)