A Regression Analysis Between Sales (In $1000)and Advertising (In $100)resulted

question 60

True/False

A regression analysis between sales (in $1000)and advertising (in $100)resulted in the following least squares line: = 84 +7X.This implies that if advertising is $800,then the predicted amount of sales (in dollars)is $140,000.

---

Definitions:

σ

A symbol commonly used in statistics to represent the standard deviation of a population.

Null Hypothesis

A statement in statistical hypothesis testing that asserts there is no significant effect or difference.

μ

A symbol representing the mean or average of a population in statistics.

≠ Symbol

Represents 'not equal to' in mathematical expressions, indicating that two values are not the same.