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A regression analysis between sales (y in $1000) and advertising (x in dollars) resulted in the...

A regression analysis between sales (y in $1000) and advertising (x in dollars) resulted in the following equation
      = 50,000 + 6x

Math   Statistics-And-Probability   
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Answer #1

Answer:

Equation of the regression line is given by:

Now advertising decreases by 500 i.e. (x-500)

Hence the change in sales is a decrease in sales by $3000.

Let me know in the comments if anything is not clear. I will reply ASAP! Please do upvote if satisfied!

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