Solved

The Following Is Part of the Results of a Regression α\alpha

Question 21

Essay

The following is part of the results of a regression analysis involving sales (Y in millions of dollars), advertising expenditures (X1 in thousands of dollars), and number of salespeople (X2) for a corporation. The regression was performed on a sample of 10 observations. The following is part of the results of a regression analysis involving sales (Y in millions of dollars), advertising expenditures (X<sub>1</sub> in thousands of dollars), and number of salespeople (X<sub>2</sub>) for a corporation. The regression was performed on a sample of 10 observations. a.If the company uses $40,000 in advertisement and has 30 salespersons, what are the expected sales? Give your answer in dollars. b.At \alpha = 0.05, test for the significance of the coefficient of advertising. c.At \alpha = 0.05, test for the significance of the coefficient of the number of salespeople.
a.If the company uses $40,000 in advertisement and has 30 salespersons, what are the expected sales? Give your answer in dollars.
b.At α\alpha = 0.05, test for the significance of the coefficient of advertising.
c.At α\alpha = 0.05, test for the significance of the coefficient of the number of salespeople.

Correct Answer:

verifed

Verified

a.$540,000,000
b.t = 3.2; p-value is bet...

View Answer

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

Related Questions

Q16: The prices of Rawlston, Inc. stock (y)

Q17: Exhibit 15-3<br>In a regression model involving 30

Q18: A multiple regression model has the form

Q19: A variable that cannot be measured in

Q22: A multiple regression model has the form

Q24: Exhibit 15-6<br>Below you are given a

Q25: A multiple regression model has<br>A)only one independent

Q26: In a multiple regression model, the

Q50: The multiple coefficient of determination is<br>A) MSR/MST.<br>B)

Q63: In regression analysis, an outlier is an