Independent variable is the amount spent on newspaper

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Reference no: EM13102071

A local company wanted to predict the weekly sales based on the weekly newspaper advertising dollars. The model that result is: y= 0.6 + 1.2x, where the dependent variable is the amount of sales, in thousands of dollars, realized during the week and the independent variable is the amount spent on newspaper advertising, in hundreds of dollars, during the week. Interpret the meaning of the values "0.6" and "1.2" in the context of the problem.

Reference no: EM13102071

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