WACE Maths Applications Practice Questions - WACE ATAR Mathematics Applications (Units 3 & 4) Exam

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The least-squares regression line for predicting weekly sales (y, in $1000s) from advertising spend (x, in $1000s) is y = 3.2 + 1.5x. What does the gradient 1.5 mean in context?

Sales are $1500 when advertising is zero Each extra $1000 of advertising is associated with $1500 more sales Each extra $1000 of advertising is associated with $1500 less sales Total sales equal 1.5 times advertising

Correct Answer:

Each extra $1000 of advertising is associated with $1500 more sales

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