SOLUTION: a regression analysis between sales ( in rs 1000) and advertising (in rs) resulted in following Least squares line
y=80000+5x. this implies
a) increase of rs 1 in advertising is
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Question 1124646: a regression analysis between sales ( in rs 1000) and advertising (in rs) resulted in following Least squares line
y=80000+5x. this implies
a) increase of rs 1 in advertising is expected to result in an increase of rs 5 in sales.
b) increase of rs 5 in advertising is expected to result in increase of rs 5000 in sales
c) increase of rs 1 in advertising is expected to result in increase of rs 80005 in sales.
d) increase of rs 1 in advertising is expected to result in increase of rs 5000 in sales.
Answer by Boreal(15235) (Show Source): You can put this solution on YOUR website!
advertising is x, because it is independent and can be controlled.
the response variable, y, is sales, which is not controlled.
Therefore, an increase in 1 rs results in an increase in sales of 5, which means rs 5000, since sales is in units of thousands. It's like an rpm gauge on a car. From 1 to 2 is an increase of 1, but it really means 1000 rpm.
D
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