A Regression Analysis Between Y, Sales (In $1000) and X

question 99

True/False

A regression analysis between y, sales (in $1000) and x, advertising (in $) yielded the least squares line
= 60 + 5x. We can interpret the slope by saying that we estimate for each extra $1 spent on advertising that sales will increase by $5 000, on average.

---

Definitions:

College Education

The process of learning and education that takes place at institutions of higher learning, typically after secondary education.

Standard Deviations

A measure of the amount of variation or dispersion of a set of values, indicating how much the values differ from the mean of the data set.

Coin

A small, flat, circular piece of metal issued by a government as money.

Proportions

Ratios that compare a part to the whole, often expressed as fractions, decimals, or percentages.