Regression analysis was applied between sales (in $1000)and advertising (in $100)and the following regression function was obtained.

= 500 + 4 X
Based on the above estimated regression line if advertising is $10,000,then the point estimate for sales (in dollars)is
A)$900
B)$900,000
C)$40,500
D)$505,000

Question

Regression analysis was applied between sales (in $1000)and advertising (in $100)and the following regression function was obtained.

= 500 + 4 X
Based on the above estimated regression line if advertising is $10,000,then the point estimate for sales (in dollars)is
A)$900 
B)$900,000 
C)$40,500 
D)$505,000

Quizplus · Accepted Answer

The Answer of Regression analysis was applied between sales (in $1000)and advertising (in $100)and the following regression function was obtained.

= 500 + 4 X
Based on the above estimated regression line if advertising is $10,000,then the point estimate for sales (in dollars)is
A)$900 
B)$900,000 
C)$40,500 
D)$505,000

Regression Analysis Was Applied Between Sales (In $1000)and Advertising (In