Question

The director of marketing at a large company wants to determine if the amount of money spent on internet marketing is a good predictor of company profit. She fits a least-squares regression line to 20 months of data and computes the following regression line:

Profit = 372.6 + 17.2(advertising dollars)

What is the value of the residual for advertising dollars spent equal to $1,020 and Profit equal to $17,500? Round to the nearest integer.

Answer 1

The Answer would be 417 because 416.6 rounded is 417 and to get the answer you take the residual value and the profit into concideratio.