a regression analysis between sales y in 1000 and advertisin

a regression analysis between sales (y in $1,000) and advertising (x in dollars) resulted in the following equation y=50,000+6x. the equation implies that an increase of ___ in advertising is associated with an increase of ___ is sales.

a)$6,$6,000
b)$1,$6
c)$1,$56,000
d)$1,$6,000

Solution

The regression analysis between sales (y in $1,000) and advertising (x in dollars) resulted in the following equation y=50,000+6x.

The above equation implies that an increases of $1 in advertising is associated with an increase of $56000 in sales.