Question: A study by a merchant investigated the relation between the advertising costs AC (in hundreds of dollars) and the sales, Sales, also in hundred of

A study by a merchant investigated the relation between the advertising costs AC (in hundreds of dollars) and the sales, Sales, also in hundred of dollars. Fifteen observations were obtained in which the AC and Sales were recorded and input into StatCrunch which produced the regression report below Simple linear regression results: Dependent Variable: Sales Independent Variable: AC Sales = 147.61 + 5.43 AC Sample size: 15 R (correlation coefcient) = 077103651 Rsq = 0594 Estimate of error standard deviation: 49.63 Parameter Estimate Std. Err. Alternative DF T-Stat P-value Intercept 147.61006 47.80385 at 0 13 3.08782 0.0086 Slope 5.4339623 1.2447062 at 0 13 4.36565 0.0008 Compute the predicted value Sales when AC is 35 Q 357 O 338 O 691 Q 573 O 365

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