Regression Analysis the Local Grocery Store Wants to Predict

question 111

Multiple Choice

Regression Analysis The local grocery store wants to predict the daily sales in dollars.The manager believes that the amount of newspaper advertising significantly affects the store sales.He randomly selects 7 days of data consisting of daily grocery store sales (in thousands of dollars) and advertising expenditures (in thousands of dollars) .The Excel/Mega-Stat output given above summarizes the results of the regression model. If the manager decides to spend $3000 on advertising,based on the simple linear regression results given above,the estimated sales are:

• A)$68,333
• B)$20,063.33
• C)$83,333
• D)$20,064,333
• E)$70,000

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