Regression analysis was applied between sales data (y in $1000s) and advertising data (x in $100s) and the following information was obtained.
?
= 12 + 1.8x
?
n = 17
SSR = 225
SSE = 75
sb1= .2683
?
Based on the above estimated regression equation, if advertising is $3000, then the point estimate for sales (in dollars) is
A. $66,000.
B. $5412.
C. $66.
D. $17,400.
Answer: A
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