Regression analysis was applied between sales (Y in $1,000) and advertising (X in $100) , and the following estimated regression equation was obtained.
= 80 + 6.2 X
Based on the above estimated regression line, if advertising is $10,000, then the point estimate for sales (in dollars) is
Definitions:
Commercial Letter
A formal document used in business transactions that typically contains specific information and terms regarding a deal or agreement.
Documentary Collection
A process where a seller uses a bank as a medium to collect payment from a buyer when the goods are delivered.
Exporter
An individual or company that sells goods or services produced in one country to buyers in other countries.
Stock Ownerships
The possession of shares in a company, which represent a claim on the company's assets and earnings.
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