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Interpret the slope of the least squares line

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Reference no: EM132201182

To investigate the relationship between amount of sales y (in thousands of dollars) and the amount x (in hundreds of dollars) spent on advertising, a marketing researcher chooses eight cities of approximately equal populations and spends differing amounts on advertising in each city. The sales y and the amount x spent on advertising are recorded for each city. From the data the least squares prediction line is:   = 25.65 + 2.78x.

Interpret the slope of the least squares line.

Reference no: EM132201182

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