28.7*Advertising + 40.5 + e with a standard deviation a = 25 (in $100s). budget of 3,000S on advertising,
28.7*Advertising + 40.5 + e with a standard deviation a = 25 (in $100s). budget of 3,000S on advertising,
A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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Transcribed Image Text:A marketing analyst wants to examine the relationship between sales (in $100s) and advertising (in $100s) for firms in the food
and beverage industry and collects monthly data for 25 firms. He estimates the model:
Sale = 28.7*Advertising + 40.5 + ɛ with a standard deviation o = 25 (in S100s).
With a budget of 3,000s on advertising,
The probability that the sale is more than 92,000 is
The probability that the sale is less than 89,000 is
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