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The scatter plot shows a regression line of advertising dollars spent and sales. If the company were to spend $7,000 on advertising, what would be the predicted future sales?
A)
$120,000


B)
$124,000


C)
$128,000


D)
$130,000

The scatter plot shows a regression line of advertising dollars spent and sales If the company were to spend 7000 on advertising what would be the predicted fu class=

Respuesta :

The answer for if the company were to spend $7000 on advertising the predicted sales would be 128000 approx.

Step-by-step explanation:

  • X axis data is  advertising in in continuous in thousand dollars.
  • Y axis data is sales which is discrete in thousand dollars.
  • Since the number could in graph show extreme result in graph.
  • The counts are taken in lower digits.
  • X axis is assuming 5.7,5.85,5.95,6,6.05,6.15,6.3,6.4,6.45,6.5,6.55
  • Y axis is assuming 108,109,113,111,110,115,114,119,118,116,118.
  • After plotting this in the graph it is as per the diagrams.
  • Algorithm for Linear regression is OLS ( ordinary least sqaure)
  • formula is y = mx + c, y being the dependent variable...
  • x being the dependent variable and c is constant.
  • A constant is there is minimum start to sales in every product.
  • Calculate slope m which is m =  N Σ(xy) − Σx ΣyN/ Σ(x2) − (Σx)2
  • calculate intercept which is c = b =  Σy − m Σx /N
  • now put it in y = mx + c , as per the above data y= 18.412x
  • answer is $ 128884 whic is closer to 128000.

Following are solutions to the given graph:

Given:

Please find the given graph.

To find:

 Find the value=?

Solution:

  • The sales strategy is the increase in revenue that a firm expects to earn at some point in the future.
  • It's a sales forecast prediction contributes to determining a study's validity as well as whether sales will trend upwards or lower.
  • It creates a parallel from 7000 towards the curve end; this will intersect at about 124 on the y-axis.

Therefore, the answer is "Option B".

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