Information about least squares regression line

Reference no: EM1396116

1. Regression analysis was applied between sales in ($1000) and advertising(in $100), and the following regression function was obtained: Y = 61 +4.1X Based on this regression line, if advertising is $10,000, the point estimate for sales (in dollars) is what

2. How do we use a least squares regression line? Please explain in your own words.

3. What is the range for the coefficient of determination? Please explain in your own words.

Reference no: EM1396116

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