Regression analysis was applied between Price (in $1000s) and advertising (also in $1000s), and the following regression function was obtained. ỹ =100+5x Based on the above estimated regression line, if advertising is $20,000, then the point estimate for price (in dollars) is $200,000 $200 $105,000 $900.000

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Regression analysis was applied between Price (in $1000s) and advertising (also in $1000s), and the following regression function was obtained.

\(\hat{y} = 100 + 5x\)

Based on the above estimated regression line, if advertising is $20,000, then the point estimate for price (in dollars) is _____.

- ○ $200,000
- ○ $200
- ○ $105,000
- ○ $900,000
Transcribed Image Text:Regression analysis was applied between Price (in $1000s) and advertising (also in $1000s), and the following regression function was obtained. \(\hat{y} = 100 + 5x\) Based on the above estimated regression line, if advertising is $20,000, then the point estimate for price (in dollars) is _____. - ○ $200,000 - ○ $200 - ○ $105,000 - ○ $900,000
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Regrssion equation :y^=100 + 5x

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