A medium-sized business has a policy that keeps its weekly advertising budget within the range from $2000 to $6000. The

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answerhappygod
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A medium-sized business has a policy that keeps its weekly advertising budget within the range from $2000 to $6000. The

Post by answerhappygod »

A medium-sized business has a policy that keeps its weekly
advertising budget within the range from $2000 to $6000. The
marketing manager has collected data from a sample of weeks,
recording the amount spent on advertising (ADV) and the revenue
(REV) for each week. The amounts spent on advertising are
recorded in thousands of dollars (for example, an actual amount of
$3500 corresponds to ADV=3.5). Revenue amounts are in actual
dollars. The regression equation is determined to be:
Predicted
REV = 6800 + 190 ADV
What is the range for the average predicted revenue given that
the average advertising budget is within $2000 to $6000?
a. $7180 to $7940
b. None of the given options.
c. $6800 to $7180
d. $6800 to $7940
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