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

question 134

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:

Analytic Intelligence

One’s ability to analyze, evaluate, judge, compare, and contrast information.

Intrinsically Important

Valued for its own sake or essence, rather than for its utility in achieving something else.

Abstract Thinking

The ability to consider concepts, possibilities, and ideas that are not immediately visible, tangible, or concrete.

Ethnic Minority

A group within a community which has different national or cultural traditions from the majority of the population.