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Question 13 Not yet answered Marked out of 1.00 Flag question
The owner of a company wanted to investigate the relationship between weekly revenue ($000) and weekly advertising expenditure (8). She 6 random sample of different weeks and recorded the corresponding revenue and advertising expenditure for each week selected. Excel was then used to create the following regression output:
Coefficients Standard Error Intercept 23.06451 0.50766 Advertising Expenditure 2.68453 0.03546
For each extra dollar spent on advertising per week, how much is weekly revenue estimated to increase by? Please give your answer correctly rounded to two decimal places.