Regression analysis was applied between sales (in $10,000) and advertising (in $100) and the following regression function was obtained. y = 50 + 8x Based on the above estimated regression line, if advertising is $1000, then the point estimate for sales (in dollars) is
a. $8050.
b. $130.
c. $130,000.
d. $1,300,000.
d
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Answer the following statement true (T) or false (F)
Answer the following statements true (T) or false (F)
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What will be an ideal response?