Regression Analysis Was Applied Between Sales (In $10,000) and Advertising

question 3

Multiple Choice

Regression analysis was applied between sales (in $10,000) and advertising (in $100) and the following regression function was obtained. = 50 + 8 X Based on the above estimated regression line if advertising is $1,000, then the point estimate for sales (in dollars) is

• A)$8,050
• B)$130
• C)$130,000
• D)$1,300,000

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Definitions:

John Winthrop

A leading figure in the founding of the Massachusetts Bay Colony, a prominent Puritan colonial governor, and known for his vision of the colony as a "city upon a hill."

African Slave Trade

The historic practice of forcibly transporting African people to the Americas to be sold as slaves, spanning from the 16th to the 19th century.

Barbados

An island country in the Lesser Antilles of the West Indies, in the Caribbean region of North America, known for its beaches, botanical gardens, and the Harrison's Cave formation.