Your company asked you to analyze the investment of their advertising campaign. You create a scatterplot graph of the advertising dollar spent on advertising, X, and compare it to the revenue generated, why, for January to December of the campaign. You find the equation of the trend line to be Y equals 2.5 3X +43. Predict the revenue generated if your company invest $200 in advertising. Write the revenue in dollars and cents.
To predict the revenue generated when investing $200 in advertising, plug in X = 200 into the equation:
Y = 2.5(200) + 43
Y = 500 + 43
Y = 543
Therefore, if the company invests $200 in advertising, the predicted revenue generated would be $543.