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Statistics Final
SAMPLE
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12. Regression / Linear Regression & Least Squares Method / Problem 11
Problem 11

A retail chain predicts quarterly profit (in millions) using y=12,300+4.50x13.75x2 y = 12,300 + 4.50x_1 - 3.75x_2 , where x1 x_1 is the number of new products launched and x2 x_2 is the average marketing spend per product (in thousands). What is the predicted profit if x1=300 x_1 = 300 and x2=800 x_2 = 800 ?