Exhibit 12-3 Regression Analysis Was Applied Between Sales Data (In $1,000s) and $1,000s)

question 20

Multiple Choice

Exhibit 12-3
Regression analysis was applied between sales data (in $1,000s) and advertising data (in $100s) and the following information was obtained.

-Refer to Exhibit 12-3. Based on the above estimated regression equation, if advertising is $3,000, then the point estimate for sales (in dollars) is

• A)$66,000
• B)$5,412
• C)$66
• D)$17,400

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Definitions:

Blood Protein

Various proteins found in blood, serving functions such as transport, immunity, and regulation of bodily processes.

Oxygen

A chemical element with symbol O and atomic number 8, essential for most life forms on Earth as a component of water and as a necessary element for cellular respiration.

Biological Classification

The scientific process of grouping and categorizing organisms into a hierarchical system known as taxonomy, based on their physical and genetic similarities and evolutionary relationships.

Species

A category of living organisms consisting of similar individuals capable of exchanging genes or interbreeding.