SOLUTION: A regress analysis between sales (Y in $1000) and advertisting (X in dollars) resulted in the following equation
^Y = 30,000 + 4 X
The above equation implies that an
A) in
Algebra.Com
Question 138647: A regress analysis between sales (Y in $1000) and advertisting (X in dollars) resulted in the following equation
^Y = 30,000 + 4 X
The above equation implies that an
A) increase of $4 in advertising is associated with an increase of $4,000 in sales.
B) increase of $1 in advertising is associated with an increase of $4 in sales.
C) increase of $1 in advertising is associated with an increase of $34,000 in sales.
D) increase of $1 in advertising is associated with an increase of $4,000 in sales.
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
Slope "always" tells you the change in y when x increases by 1.
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Your problem:
B
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Cheers,
Stan H.
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