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

Solve using given info

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 coefficient) = 0.77103651 R-sq = 0.594 Estimate of error standard deviation: 49.63 Parameter Estimate Std. Err. Alternative DF T-Stat P-value Intercept 147.61006 47.80385 # 0 13 3.08782 0.0086 Slope 5.4339623 1.2447062 - 0 13 4.36565 0.0008 Compute the predicted value Sales when AC is 35 C 357 578 C 338 691 365

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