As vice president in charge of marketing, Bob Seller is interested in the relationship between dollars spent on advertising and the number of widgets his company sells. He has collected the following data on advertising dollars and numbers of widgets sold:

(a) Which variable should be the dependent variable and which the independent variable?

(b) Plot the data.

(c) Use the method of least squares to estimate the slope and intercept.

(d) Predict the sale of widgets if $ 175,000 is spent on advertising.

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Advertising dollars (thousands) Widgets sold (thousands) 10 100 15 120 25 145 70 250 100 400