A regression analysis between sales (Y in $100) and advertising (X in dollars) resulted in the...

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A regression analysis between sales (Y in $100) and advertising (X in dollars) resulted in the...

A regression analysis between sales (Y in $100) and advertising (X in dollars) resulted in the following equation = 30,000 + 6 X The above equation implies that an

a. increase of $1 in advertising is associated with an increase of $600 in sales

b. increase of $1 in advertising is associated with an increase of $6 in sales

c. increase of $1 in advertising is associated with an increase of $6,000 in sales

d. None of the above

math Statistics-And-Probability

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Answer 1

Answer #1

ycap = 30000 + 6x

for every 1 dollar increase in x, the y will increase by 600

increase of $1 in advertising is associated with an increase of $600 in sales

option A

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Answer 2

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