Question

A shoe store developed the following estimated regression equation relating sales to inventory investment and advertising expenditures. The data used to develop the model came from a survey of 10 stores; for those data, SST = 16,000 and SSR = 12,000. y^ = 25 + 10x1 + 8x2 Where x1 = inventory investment ($1000s); x2 = advertising expenditures ($1000s); y = sales ($1000s) Predict the sales resulting from a $15,000 investment in inventory and an advertising budget of $10,000.

Answer 1

Answer

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Explanation  

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