Question: A company hires you to develop a linear regression forecasting model. Based on the company's historical sales information, you determine the intercept value of the

A company hires you to develop a linear regression forecasting model. Based on the company's historical sales information, you determine the intercept value of the model to be 1,500. You also find the slope value is -25. If after developing the model you are given a value of X = 8, which of the following is the resulting forecast error using this model if the actual sales is 1250?

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