Question: Regression analysis was applied between Y = sales (in $1000s) and X = advertising (in $) and the following regression function was obtained: Y =

Regression analysis was applied between Y = sales (in $1000s) and X = advertising (in $) and the following regression function was obtained:

Y = 500 + .04X.

Based on the above estimated regression line if advertising is $10,000, then the point estimate for sales (in dollars) is...

Hint: In the equation, Y is in $1000s -- covert your answer to dollars.

Question 3 options:

$40,500

$505,000

$900,000

$900

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