A regression analysis between sales (y in $100) andadvertising (x in dollars) resulted in the following equation:y hat (estimated y) = 30,000 + 5xThe above equation implies that anincrease of $1 in advertising is associated with an increase of $5in sales.increase of $4 in advertising is associated with an increase of$5000 in sales.increase of $1 in advertising is associated with an increase of$5,000 in sales.increase of $1 in advertising is associated with an increase of$500 in sales.

Answered: Image /qna-images/answer/b2d19b94-469c-48bf-bc54-43fd56e7d743.jpg

Answered: A regression analysis between sales (y…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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A real estate company wants to study the relationship between house sales prices and some important predictors of sales prices. Based on data from recently sold homes in the space, the following variables are used in a multiple regression model. y sales price (in thousands of dollars) x₁ = total floor area (in square feet) X₂= number of bedrooms x3² distance to nearest high school (in miles) The estimated model is as follows. y=121 +0.083x₁ +23x₂ - 4x3 Answer the questions below for the interpretation of the coefficient of x₁ in this model. (a) Holding the other variables fixed, what is the average change in sales price for each 100-square-foot increase in floor area? dollars (b) Is this change an increase or a decrease? increase decrease X Ś
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