A Regression Analysis Between Sales (Y in $1000) and Advertising

question 114

Multiple Choice

A regression analysis between sales (Y in $1000) and advertising (X in dollars) resulted in the following equation = 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

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Definitions:

Vertical Bars

Lines used in typography and programming to separate graphical elements or pieces of information; also called a pipe symbol.

Line Chart

A type of chart which displays information as a series of data points connected by straight line segments, useful for showing trends over time.

Trends Over Time

Analytical insights or patterns derived from tracking specific variables or metrics as they change and evolve over a designated period.

Chart Wizard

A step-by-step guide in spreadsheet and data visualization software that aids users in creating charts.