Question: Consider the following multiple regression model to predict sales for a product (in $ thousand) based on Ad Expense (in $ hundred) and a Bonus
Consider the following multiple regression model to predict sales for a product (in $ thousand) based on Ad Expense (in $ hundred) and a Bonus (in $) given to sales people:
Predicted Sales = -101.227 + 0.17(Bonus) + 22.3(Ad Expense)
You are in charge of sales of this product and you are expecting extra budget money to come to you.On which item, Bonus or Ad Expense (you must choose one, and write that in the left or the first box), would you spend that money to get the best impact on sales and what would be the impact per dollar spent?(Write the dollar amount in the second box)
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