Regression analysis was applied between sales (in $10,000) and advertising (in $100) and the following regression function was obtained.
?
= 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.
Answer: D
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