Point estimate for average sales

Reference no: EM1320889

You have been provided with the following regression output. The dependent variable is unit sales of a product, and the independent variable is the dollar value of newspaper advertising for that product. The unit of analysis is weeks; that is, each of the observations in the underlying sample data represents a separate week of sales and newspaper advertising.

Regression Analysis: Sales versus Newspaper

The regression equation is:

Sales = 6514 + 0.0386 Newspaper

Predictors	Co-eff	SECo-eff	T	P
Constant	6514	1138	5.72	0.000
Newspaper	0.038625	0.005494	7.03	0.00

S = 5630.70 R-Sq = 24.3% R-Sq(adj) = 23.8%

Analysis of Variance:

Source	D F	S S	M S	F	P
Regression	1	1567134272	1567134272	49.43	0.000
Residual Error	154	4882532724	31704758
Total	155	6449666996

What would be your best point estimate for average Sales in weeks for which Newspaper advertising were $1 million? What would be an appropriate interval estimate for this? (Use 95% limits.)

Reference no: EM1320889

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