Algebra 1
the director of marketing at a large company wants to determine if the amount of money spent on internet marketing is a good predictor of company profit. she fits a least-squares regression line to 20 months of data and computes the following regression line:
profit = 372.6 + 17.2(advertising dollars)
what is the value of the residual for advertising dollars spent equal to $1,020 and profit equal to $17,500? round to the nearest integer.

$416.60

Step-by-step explanation:

In this question the expression is given in the form of a regression line given: profit = 372.6 + 17.2×(advertising dollars)

We have to find the residual value for the advertising dollars spent

= $1,020 and profit  = $17,500

We will calculate the profit for advertising dollars = $1,020

Profit = 372.6 + 17.2×(1020)

= 372.6 + 17544

= $17,916.6

But the profit is $17,500 so the difference in amount will be residual value

Residual value = 17,916.6 - 17,500 = $416.60

The value of residual is $416.60.

lo.lll

step-by-step explanation: