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 $
1 answer
To predict the revenue generated for a $200.00 investment in advertising using the trend line equation \( y = 2.53x + 43 \), we will substitute \( x \) with 200 in the equation.
\[ y = 2.53(200) + 43 \]
Calculating \( 2.53 \times 200 \):
\[ 2.53 \times 200 = 506 \]
Now, we add 43 to this result:
\[ y = 506 + 43 = 549 \]
Therefore, the predicted revenue generated for a $200.00 investment in advertising is $549.00.
