Regression analysis was applied between sales (in $1000) and advertising (in $100) and the following regression function was obtained. $\hat { y }$ = 500 + 4x

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.   $\hat { y }$ = 500 + 4x
 
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.   $\hat { y }$ = 500 + 4x
 
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 y^\hat { y }y^​

Regression Analysis Was Applied Between Sales (In $1000) and Advertising $\hat { y }$