Mathematics, 14.05.2021 02:20 brcribb
A shoe store developed the following estimated regression equation relating sales to inventory investment and advertising expenditures. where
^y = 25 + 10x1 + 8x2
x1 = inventory investment ($1000s)
x2 = advertising expenditures ($1000s)
y = sales ($1000s)
a. Predict the sales resulting from a $15,000 investment in inventory and an advertising budget of $10,000.
b. Interpret b1 and b2 in this estimated regression equation.
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