A regression analysis between sales (in thousands of dollars) and advertising (i

Question

A regression analysis between sales (in thousands of dollars) and advertising (in hundreds of dollars) resulted in the following least squares line: y^=75+6x. This implies that if advertising is 800 dollars, then the predicted amount of sales (in dollars) is: A. 487,500 dollars B. 123,000 dollars C. 12,300 dollars D. 4,875 dollars In regression analysis, if the coefficient of correlation is -1.0, then: A. the sum of squares for regression and total variation in y are equal. B. the sum of squares for error is -1.0. C. the sum of squares for error and sum of squares for regression are equal. D. the sum of squares for regression is 1.0.

Explanation / Answer

(1) (D) If X=800 then Y=4,875 dollars

(2) (A) If r=-1 then the sum of squares for regression and total variation in Y are equal

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