monthly revenue (y). The equation of the best-fit linear model is determined to be ŷ=9,200+68x. The correlation is determined to be significant. Which of the following statements is valid? Group of answer choices For every additional dollar spent on advertising, the restaurant can expect an average decrease in revenue of $68. For every additional dollar spent on advertising, the restaurant can expect an average increase in revenue of $9,268. For every additional dollar spent on advertising, the restaurant can expect an average increase in revenue of $68.
monthly revenue (y). The equation of the best-fit linear model is determined to be ŷ=9,200+68x. The correlation is determined to be significant. Which of the following statements is valid? Group of answer choices For every additional dollar spent on advertising, the restaurant can expect an average decrease in revenue of $68. For every additional dollar spent on advertising, the restaurant can expect an average increase in revenue of $9,268. For every additional dollar spent on advertising, the restaurant can expect an average increase in revenue of $68.
monthly revenue (y). The equation of the best-fit linear model is determined to be ŷ=9,200+68x. The correlation is determined to be significant. Which of the following statements is valid? Group of answer choices For every additional dollar spent on advertising, the restaurant can expect an average decrease in revenue of $68. For every additional dollar spent on advertising, the restaurant can expect an average increase in revenue of $9,268. For every additional dollar spent on advertising, the restaurant can expect an average increase in revenue of $68.
A linear model is developed for the relationship between the monthly amount a restaurant spends on advertising (x) and the restaurant’s monthly revenue (y). The equation of the best-fit linear model is determined to be ŷ=9,200+68x. The correlation is determined to be significant. Which of the following statements is valid?
Group of answer choices
For every additional dollar spent on advertising, the restaurant can expect an average decrease in revenue of $68.
For every additional dollar spent on advertising, the restaurant can expect an average increase in revenue of $9,268.
For every additional dollar spent on advertising, the restaurant can expect an average increase in revenue of $68.
For every additional dollar spent on advertising, the restaurant can expect an average increase in revenue of $9,200.
Definition Definition Relationship between two independent variables. A correlation tells the degree to which variables move in relation to each other. When two sets of data are related to each other, there is a correlation between them.
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