Question: Simple linear regression analysis was applied between sales ( y in $1,000) and advertising ( x in $100), and the following regression function was obtained:

Simple linear regression analysis was applied between sales (y in $1,000) and advertising (x in $100), and the following regression function was obtained: y^=12+1.8xy^=12+1.8x. The following results for advertising of $500 were obtained based on the estimated regression line. Match the results to the correct descriptions.

$16,000 to $26,000

Answer 1Choose...Prediction interval for an individual value of sales in dollars.

Point estimate for sales in dollars.

Confidence interval for the mean value of sales in dollars.

$21,000

Answer 2Choose...Prediction interval for an individual value of sales in dollars.

Point estimate for sales in dollars.

Confidence interval for the mean value of sales in dollars.

$19,500 to $22,500

Answer 3Choose...Prediction interval for an individual value of sales in dollars.

Point estimate for sales in dollars.

Confidence interval for the mean value of sales in dollars.

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