Solved

The Following Regression Model Has Been Proposed to Predict Monthly Y^\hat { Y }

Question 23

Short Answer

The following regression model has been proposed to predict monthly sales at a shoe store.
Y^\hat { Y } = 40 - 3X1 + 12X2 + 10X3
where
X1 = competitor's previous month's sales in $1,000s) X2 = store's previous month's sales in $1,000s)
X3 =
= sales in $1,000s)
Y^\hat { Y }
a. Predict sales in dollars) for the shoe store if the competitor's previous month's sales were
$9,000, the store's previous month's sales were $30,000, and no radio advertisements were run.
b. Predict sales in dollars) for the shoe store if the competitor's previous month's sales were
$9,000, the store's previous month's sales were $30,000, and 10 radio advertisements were run.

Correct Answer:

verifed

Verified

a. $373,00...

View Answer

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions