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What is the predicted profit when the number of items made (x) is 2,500, and the number of stores stocking the product (x2) is 5, using the estimated regression equation y=550 + 30x1 + 9x2? a. 1,345 b. 23,200 c. 8,095 d. 75,595

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Answer:

d. 75,595

Step-by-step explanation:

Given the estimated regression equation :

y=550 + 30x1 + 9x2

if number of items made (x) = 2500 ; number of stores stocking the product (x2) = 5

Predicted profit (y) will be :

Substitute the values x1 = 2500 and x2 = 5 into the estimated regression model:

y=550 + 30(2500) + 9(5)

y = 550 + 75000 + 45

y = 75595

Hence, the predicted profit will be 75,595

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