Eddie’s Restaurant collected the following data on the relationship between advertising and sales at a sample of five restaurants: Advertising Expenditures ($1000s)Sales ($1000s) 119 444 640 1052 1453 a.Let x represent advertising expenditures and y represent sales. Use the method of least squares (Linear regression) to develop a straight-line approximation of the relationship between the two variables. b.Use the equation developed in part (a) to forecast sales for an advertising expenditure of $8000.

Answer rating: 100% (QA)

a The equation on the leastsquares method of for... View the full answer