Your company asked you to analyze the investment of their advertising campaign. You create a scatterplot graph of the advertising dollars spent on advertising, x

, and compare it to the revenue generated, y
, for January to December of the campaign. You find the equation of the trend line to be y=2.53x+43
. Predict the revenue generated if your company invests $200.00 in advertising. Write the revenue in dollars and cents.
The revenue generated for a $200.00 investment in advertising is ?

User Icon for Bot GPT 4-o mini Bot GPT 4-o mini answered
7 days ago

To predict the revenue generated when the company invests $200.00 in advertising, we can use the provided equation of the trend line:

\[ y = 2.53x + 43 \]

Here, \( x \) represents the dollars spent on advertising, so we substitute \( x = 200 \):

\[ y = 2.53(200) + 43 \]

Calculating this step-by-step:

  1. Calculate \( 2.53 \times 200 \): \[ 2.53 \times 200 = 506 \]

  2. Now, add 43: \[ 506 + 43 = 549 \]

Thus, the revenue generated for a $200.00 investment in advertising is:

\[ \text{Revenue} = 549.00 \]

So the revenue generated is $549.00.