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.
The revenue generated for a $200.00 investment in advertising
can be calculated using the equation of the trend line:
y = 2.53x + 43
Where, x = $200.00.
Substituting x = $200.00 into the equation, we get:
y = 2.53(200) + 43
y = 506 + 43
y = 549
Therefore, the revenue generated for a $200.00 investment in advertising is $549.00.