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

question 54

Multiple Choice

Regression analysis was applied between sales (y in $1000) and advertising (x in $100) and the following estimated regression equation was obtained. $\hat { y }$ = 80 + 6.2x

Based on the above estimated regression line, if advertising is $10,000, then the point estimate for sales (in dollars) is

• A) $62,080.
• B) $142,000.
• C) $700.
• D) $700,000.

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Definitions:

Classical Conditioning

An educational method where two stimuli are consistently associated, leading to a reaction initially triggered by the second stimulus but ultimately induced by the first stimulus alone.

Operant Conditioning

A learning process through which the strength of a behavior is modified by reinforcement or punishment.

Mere Exposure Effect

An occurrence in psychology where individuals often favor items or concepts just because they are accustomed to them.

Operant Conditioning

A method of learning that occurs through rewards and punishments for behavior, with the association formed between behavior and its consequences.