Regression analysis was applied between sales (in $10,000) and advertising (in $100) and the following regression function was obtained. = 50 + 8 X
Based on the above estimated regression line if advertising is $1,000, then the point estimate for sales (in dollars) is
A)$8,050
B)$130
C)$130,000
D)$1,300,000

Question

Regression analysis was applied between sales (in $10,000) and advertising (in $100) and the following regression function was obtained. = 50 + 8 X
Based on the above estimated regression line if advertising is $1,000, then the point estimate for sales (in dollars) is
A)$8,050 
B)$130 
C)$130,000 
D)$1,300,000

Quizplus · Accepted Answer

The Answer of Regression analysis was applied between sales (in $10,000) and advertising (in $100) and the following regression function was obtained. = 50 + 8 X
Based on the above estimated regression line if advertising is $1,000, then the point estimate for sales (in dollars) is
A)$8,050 
B)$130 
C)$130,000 
D)$1,300,000

Regression Analysis Was Applied Between Sales (In $10,000) and Advertising