A regression analysis between sales (in $1000)and advertising (in $100)resulted in the following least squares line: $$\hat { Y }$$
= 84 +7X.This implies that if advertising is $800,then the predicted amount of sales (in dollars)is $140,000.

Question

A regression analysis between sales (in $1000)and advertising (in $100)resulted in the following least squares line: $$\hat { Y }$$ 
= 84 +7X.This implies that if advertising is $800,then the predicted amount of sales (in dollars)is $140,000.

Quizplus · Accepted Answer

The predicted amount of sales is $140,000 when advertising is $800, which is equal to 84 + 7(8) = 140.

A Regression Analysis Between Sales (In $1000)and Advertising (In $100)resulted Y^\hat { Y }Y^

A Regression Analysis Between Sales (In $1000)and Advertising (In $100)resulted $\hat { Y }$