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 answer
To predict the revenue generated when the company invests $200.00 in advertising, we can substitute \( x = 200 \) into the equation of the trend line \( y = 2.53x + 43 \).
Here’s the calculation:
\[ y = 2.53(200) + 43 \]
First, calculate \( 2.53 \times 200 \):
\[ 2.53 \times 200 = 506 \]
Now, add 43:
\[ y = 506 + 43 = 549 \]
Therefore, the predicted revenue generated is $549.00.
