Regression analysis was applied between sales (Y in $1,000) and advertising (X in $100), and the following estimated regression equation was obtained. = 80 + 6.2 X Based on the above estimated regression line, if advertising is $10,000, then the point estimate for sales (in dollars) is
A)$62,080
B)$142,000
C)$700
D)$700,000

Question

Regression analysis was applied between sales (Y in $1,000) and advertising (X in $100), and the following estimated regression equation was obtained.  = 80 + 6.2 X Based on the above estimated regression line, if advertising is $10,000, then the point estimate for sales (in dollars) is
A)$62,080 
B)$142,000 
C)$700 
D)$700,000

Quizplus · Accepted Answer

The Answer of Regression analysis was applied between sales (Y in $1,000) and advertising (X in $100), and the following estimated regression equation was obtained.  = 80 + 6.2 X Based on the above estimated regression line, if advertising is $10,000, then the point estimate for sales (in dollars) is
A)$62,080 
B)$142,000 
C)$700 
D)$700,000

Regression Analysis Was Applied Between Sales (Y in $1,000) and Advertising