Suppose that a company wishes to predict sales volume based on the amount of advertising expenditures. The sales manager thinks that sales volume and advertising expenditures are modeled according to the following linear equation. Both sales volume and advertising expenditures are in thousands of dollars. Estimated Sales Volume=47.58+1.72*(Advertising Expenditures) Using this information, answer the questions below: PART A: If the company is planning to spend $250,000 in advertising, how much is the predicted sales volume? PART B: If the company has a target sales volume of $750,000, how much should the sales manager allocate for advertising in the budget?
Suppose that a company wishes to predict sales volume based on the amount of advertising expenditures. The sales manager thinks that sales volume and advertising expenditures are modeled according to the following linear equation. Both sales volume and advertising expenditures are in thousands of dollars. Estimated Sales Volume=47.58+1.72*(Advertising Expenditures) Using this information, answer the questions below: PART A: If the company is planning to spend $250,000 in advertising, how much is the predicted sales volume? PART B: If the company has a target sales volume of $750,000, how much should the sales manager allocate for advertising in the budget?
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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Suppose that a company wishes to predict sales volume based on the amount of advertising expenditures. The sales manager thinks that sales volume and advertising expenditures are modeled according to the following linear equation. Both sales volume and advertising expenditures are in thousands of dollars.
Estimated Sales Volume=47.58+1.72*(Advertising Expenditures)
Using this information, answer the questions below:
PART A: If the company is planning to spend $250,000 in advertising, how much is the predicted sales volume?
PART B: If the company has a target sales volume of $750,000, how much should the sales manager allocate for advertising in the budget?
- Show all relevant steps and calculations so I can follow them, please
- Round your answer to the nearest whole number.
- Write your final answer in a complete sentence in the context of the problem.
Part A:
Part B:
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