The following estimated regression equation has been proposed to predict daily sales at a computer store.
?
= 50 - 3x1 + 20x2 + 10x3
?
?where
x1 = competitor's previous day's sales (in $1000s)
x2 = population within 1 mile (in 1000s)
x3 = 1 if radio advertising was used; 0 otherwise
= estimated sales (in $1000s)?
?
Predict sales (in dollars) for the store with the competitor's previous day's sale of $5000, a population of 20,000 within 1 mile, and nine radio advertisements.
What will be an ideal response?
$445,000
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