A small business hires a consultant to predict the value of wee... | Filo
A small business hires a consultant to predict the value of wee... | Filo
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A small business hires a consultant to predict the value of weekly sales of their product if their weekly advertising is increased to 750 per week. The consultant takes a record of how much the firm spent on advertising per week and the corresponding weekly sales over the past six months. The consultant writes "Over the past six months the average weekly expenditure on advertising has been 500 and average weekly sales have been 10,000. Based on the results of a simple linear regression, I pre
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