An entrepreneur runs a website that sells car tires online. Based on the Regression output below, how much in Advertising Budget do you predict is needed to sell 40 tires per day. (round to the nearest dollar) SUMMARY OUTPUT Regression Statistics Multiple R 0.93303 R Square 0.87055 Adjusted R Square 0.85616 Standard Error 4.91656 Observations 11 Standard Error P-Value Coefficients Intercept 12.5671 3.16973 0.0032807 Advertising Budget 0.07224 009286 0.0000277
Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
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