Using Trend Lines Practice

Question

Complete this assessment to review what you've learned. It will not count toward your grade.
4 of 54 of 5 Items

Question
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.(1 point)
The revenue generated for a $200.00 investment in advertising is $

Answer 1

To predict the revenue generated from a $200.00 investment in advertising using the trend line equation \( y = 2.53x + 43 \), we can substitute \( x = 200 \) into the equation.

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

Calculating this step-by-step:

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

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

So, the predicted revenue generated from a $200.00 investment in advertising is \( \mathbf{549.00} \).

Thus, the revenue generated for a $200.00 investment in advertising is $549.00.