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)