Question

An online shopping website collected data regarding its operations and obtained the following linear regression model for the estimated revenue in millions, $\hat Y$, based on the click-through rate in thousands, x.
$\hat Y$ = 1.2 + 0.2 x
What is the best interpretation of the value of the estimated slope of 0.2?
a. Every click on the website causes $0.2 million more revenue.
b. The estimated change in the click- through rate is 0.2 thousand for each for each one million in revenue.
c. The estimated change in revenue for each additional thousand clicks is $0.2 million.
d. When there are no clicks on the website, the estimated revenue is $0.2 million.

Answer 1

Answer:

Option C is correct.

The estimated slope, 0.2, is the estimated change in revenue for each additional thousand clicks is $0.2 million.

Explanation:

Hope this Helps!!!

Answer 2

Answer:

Option c is correct

Explanation:

The estimated change in revenue for each additional thousand clicks is $0.2 million.