Consider the following regression analysis between sales (Y in $1,000)and social media advertising (X in dollars). = 55,000 + 7X The regression equation implies that an ________.
A)increase of $7 in advertising is associated with an increase of $7,000 in sales
B)increase of $1 in advertising is associated with an increase of $7 in sales
C)increase of $1 in advertising is associated with an increase of $62,000 in sales
D)increase of $1 in advertising is associated with an increase of $7,000 in sales

Question

Consider the following regression analysis between sales (Y in $1,000)and social media advertising (X in dollars).  = 55,000 + 7X The regression equation implies that an ________.
A)increase of $7 in advertising is associated with an increase of $7,000 in sales 
B)increase of $1 in advertising is associated with an increase of $7 in sales 
C)increase of $1 in advertising is associated with an increase of $62,000 in sales 
D)increase of $1 in advertising is associated with an increase of $7,000 in sales

Quizplus · Accepted Answer

The Answer of Consider the following regression analysis between sales (Y in $1,000)and social media advertising (X in dollars).  = 55,000 + 7X The regression equation implies that an ________.
A)increase of $7 in advertising is associated with an increase of $7,000 in sales 
B)increase of $1 in advertising is associated with an increase of $7 in sales 
C)increase of $1 in advertising is associated with an increase of $62,000 in sales 
D)increase of $1 in advertising is associated with an increase of $7,000 in sales

Consider the Following Regression Analysis Between Sales (Y in $1,000)and