A Regression Model Between Sales (Y in $1000), Unit Price $\hat { y }$

question 48

Multiple Choice

A regression model between sales (y in $1000) , unit price (x₁ in dollars) , and television advertisement (x₂ in dollars) resulted in the following function:
$\hat { y }$ = 7 - 3x₁ + 5x₂

For this model, SSR = 3500, SSE = 1500, and the sample size is 18.The coefficient of x₂ indicates that if television advertisement is increased by $1 (holding the unit price constant) , sales are expected to

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Definitions:

Scientific Conclusion

A scientific conclusion is a final statement that summarizes the findings of a scientific investigation, based on evidence and reasoning.

Hypothesis

A proposed explanation for a phenomenon, based on limited evidence as a starting point for further investigation.

Test Evidence

Demonstrable data or documents that support the validity or reliability of a specific hypothesis, theory, or assessment tool.

Optimality Theory

A principle suggesting that organisms behave in ways that maximize their fitness, balancing the costs and benefits of each action.