Your company asked you to analyze the investment of their advertising campaign. You create a scatterplot graph of the advertising dollars spent on advertising x and compare it to the revenue generated y for January to December of the campaign. You find the equation of the trend line to be y = 2.53c + 43. Predict the revenue generated if your company invests $200 in advertising
To predict the revenue generated if the company invests $200 in advertising, we can substitute the value of c = 200 into the equation of the trend line.
y = 2.53c + 43
Substituting c = 200:
y = 2.53(200) + 43
y = 506 + 43
y = 549
According to the trend line equation, the predicted revenue generated if the company invests $200 in advertising is $549.
To predict the revenue generated if your company invests $200 in advertising, we can use the equation of the trend line, which is y = 2.53c + 43.
First, let's substitute the value of c (advertising dollars) with $200 in the equation:
y = 2.53(200) + 43
Now, calculate the value of y:
y = 506 + 43
y = 549
Therefore, if your company invests $200 in advertising, the predicted revenue generated would be $549.