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 invests $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 plug 200 into the equation for x:
y = 2.53(200) + 43
y = 506 + 43
y = $549.00
Therefore, if the company invests $200.00 in advertising, we predict they will generate $549.00 in revenue.
To predict the revenue generated if the company invests $200.00 in advertising, we can substitute the value of x (advertising dollars spent) into the equation of the trend line, which is y = 2.53x + 43.
Substituting x = 200 into the equation:
y = 2.53(200) + 43
y = 506 + 43
y = 549
Therefore, if the company invests $200.00 in advertising, the predicted revenue generated would be $549.00.
To predict the revenue generated if the company invests $200.00 in advertising, we can use the equation of the trend line that was found:
y = 2.53x + 43.
Here, y represents the revenue generated and x represents the advertising dollars spent. We need to plug in x = $200.00 into the equation and solve for y.
y = 2.53(200) + 43.
Calculating the expression:
y = 506 + 43,
y = 549.
So, if the company invests $200.00 in advertising, the predicted revenue generated would be $549.00.