Business Statistics Quiz
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REGRESSION AND FORECASTING
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A regression model predicts monthly sales (in thousands) for a retail chain using Sales=45+12⋅Store_Type_A+8⋅Store_Type_B+0.3⋅AdvertisingSales = 45 + 12 \cdot Store\_Type\_A + 8 \cdot Store\_Type\_B + 0.3 \cdot Advertising, where Store_Type_AStore\_Type\_A and Store_Type_BStore\_Type\_B are dummy variables for store types A and B respectively, and AdvertisingAdvertising is in hundreds of dollars. If a Type C store spends $2,000 on advertising, what is the predicted monthly sales?
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