A regression analysis between y, sales (in $1000) and x, advertising (in $) yielded the least squares line $\ddot { p }$ = 60 + 5x. We can interpret the slope by saying that we estimate for each extra $1 spent on advertising that sales will increase by $5 000, on average.

Question

Quizplus · Accepted Answer

The slope of the least squares line is 5, which means that for each extra $1 spent on advertising, sales are estimated to increase by $5,000, on average.

A Regression Analysis Between Y, Sales (In $1000) and X p¨\ddot { p }p¨​

A Regression Analysis Between Y, Sales (In $1000) and X $\ddot { p }$