Regression Analysis Was Applied Between Sales (In $1000) and Advertising

question 66

Multiple Choice

Regression analysis was applied between sales (in $1000) and advertising (in $100) and the following regression function was obtained. = 500 + 4 X Based on the above estimated regression line if advertising is $10,000, then the point estimate for sales (in dollars) is

• A)$900
• B)$900,000
• C)$40,500
• D)$505,000

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Definitions:

Structural Integration

A strategy or process aimed at organizing the components of an organization or system to make it more coherent and functional.

Ethnocentrism

The belief in the inherent superiority of one's own ethnic group or culture, often accompanied by feelings of dislike for other groups or cultures.

Xenophobia

A fear or hatred of strangers or foreigners, often manifested in discriminatory attitudes and behaviors.

Perfectly Elastic

Describes a situation in economics where the quantity demanded or supplied can change infinitely with any change in price.