MINDTAP Alexis Godfrey\" (?) Exam 5 Due on Nov 28 at 4 PM CST Test: Exam 5 Assig

Question

MINDTAP Alexis Godfrey" (?) Exam 5 Due on Nov 28 at 4 PM CST Test: Exam 5 Assignment Score: 0.00% Time Remaining: 0:54:24 Save Submit Test for Grading Questions bMultiple Choice 14-07 Question 6 of 15 Regression analysis was applied between sales data (y in $1oo0s) and advertising data (x in S100s) and the following information was obtained 6. =12 + 1.8x 8 9. SSR = 225 SSE = 75 sh, = .2683 10 12. Based on the above estimated regression equation, if advertising is $3000, then the point estimate for sales (in dollars) is 13 a. $17,400. 14 b. $66,000. 1. Oc. $66. d. $5412 A-Z b Multiple Choice 14-077 4 Question6 of 13 Save Submit Test for Grading

Explanation / Answer

If advertising is $3000 that means:

x = 30

Hence,

y = 12 + 1.8(30)

y = 66

So,

Sales = $66,000

Option b is correct.

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