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=2.53x + 43. Predict the revenue generated if your company invest $200.00 in advertising. Write the revenue in dollars and cents.
To predict the revenue generated if the company invests $200.00 in advertising, we can simply substitute $200.00 for x in the equation of the trend line.
y = 2.53x + 43
Substituting x = $200.00:
y = 2.53 * 200 + 43
= $506 + 43
= $549.00
Therefore, the predicted revenue generated if the company invests $200.00 in advertising is $549.00.