Show calculations or explanation for each question. a) A regression analysis between sales (in $1000) and advertising (in $100) resulted in the following least squares line: y^=75+6x. This implies that if advertising is $800, then the predicted amount of sales (in dollars) is: a. $4875 b. $123,000 c. $487,500 d. $12,300 b) The residual is defined as the difference between: a. the actual value of y and the estimated value of y b. the actual value of x and the estimated value of x c. the actual value of y and the estimated value of x d. the actual value of x and the estimated value of y c) In the simple linear regression model, the slope represents the: a. value of y when x = 0. b. average change in y per unit change in x. c. value of x when y = 0. d. average change in x per unit change in y
Show calculations or explanation for each question.
a) A regression analysis between sales (in $1000) and advertising (in $100) resulted in
the following least squares line: y^=75+6x. This implies that if advertising is $800, then
the predicted amount of sales (in dollars) is:
a. $4875
b. $123,000
c. $487,500
d. $12,300
b) The residual is defined as the difference between:
a. the actual value of y and the estimated value of y
b. the actual value of x and the estimated value of x
c. the actual value of y and the estimated value of x
d. the actual value of x and the estimated value of y
c) In the simple linear regression model, the slope represents the:
a. value of y when x = 0.
b. average change in y per unit change in x.
c. value of x when y = 0.
d. average change in x per unit change in y
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