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You are given the following information about advertising expenditure and sales...

This question belongs to Management Business Statistics
Business Statistics
?

You are given the following information about advertising expenditure and sales.
Advertisement (X) Sales (Y) (Rs. in lakh)
Arithmetic Mean 10 90
Standard Deviation 3 12
Correlation coefficient between advertising expenditure and sales 0.80. What is the likely sales for advertising budget of Rs. 15 lakh?

Answer & Solution
Correct Answer: Option B
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