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 will use the equation of the trend line:
y = 2.53x + 43
Substitute 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.