Question 8 31570 points Save Anewer The Information below may be used in several

Question

Question 8 31570 points Save Anewer The Information below may be used in several questions Data were olected on monthly sales menue (in $1000s) and monthly advertising expenditures ($100 for a sample of Walgreers stores n Houston. The regression line relating revenue (M to advertining spend 00 is found to be -48.3+9.00x. The predicted salos revenue for a morth in which $1,000 was spent on advertising would be: prediction for X S1000. Hint: X is in hundredss you want O $41,700. O $90,000 O $8.961.70. O $50,000 ? $851.70. MacBook Pro

Explanation / Answer

Regression eqn:
y-hat = -48.3 + 9x
x = 1000 10 ($100's)
Yhat = =-48.3+9*10
41.7 ($1000s)
hence, yhat= $41,700

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