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Question
Regression Analysis
A local grocery store wants to predict its daily sales in dollars. The manager believes that the amount of newspaper advertising significantly affects sales. He randomly selects 7 days of data consisting of daily grocery store sales (in thousands of dollars) and advertising expenditures (in thousands of dollars). The Excel/MegaStat output given above summarizes the results of the regression model.
If the manager decides to spend $3,000 on advertising, based on the simple linear regression results given above, what are the estimated sales?
Answer
This answer is hidden. It contains 63 characters.
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