The following regression model has been proposed to predict sales at a computer store. = 50 - 3x₁ + 20x₂ + 10x₃
where
x₁ = competitor's previous day's sales (in $1,000s)
x₂ = population within 1 mile (in 1,000s) = sales (in $1000s)
Predict sales (in dollars) for a store with the competitor's previous day's sale of $5,000, a population of 20,000 within 1 mile, and nine radio advertisements.

Question

The following regression model has been proposed to predict sales at a computer store.

= 50 - 3x₁ + 20x₂ + 10x₃
where
x₁ = competitor's previous day's sales (in $1,000s)
x₂ = population within 1 mile (in 1,000s)

= sales (in $1000s)
Predict sales (in dollars) for a store with the competitor's previous day's sale of $5,000, a population of 20,000 within 1 mile, and nine radio advertisements.

Quizplus · Accepted Answer

The Answer of The following regression model has been proposed to predict sales at a computer store. = 50 - 3x₁ + 20x₂ + 10x₃ where x₁ = competitor's previous day's sales (in $1,000s) x₂ = population within 1 mile (in 1,000s) = sales (in $1000s) Predict sales (in dollars) for a store with the competitor's previous day's sale of $5,000, a population of 20,000 within 1 mile, and nine radio advertisements.

The Following Regression Model Has Been Proposed to Predict Sales