A local grocery store wants to predict the daily sales in dollars. The manager believes that the amount of newspaper advertising significantly affects the store sales. The manager randomly selects 7 days of data consisting of daily grocery store sales (in thousands of dollars) and advertising expenditures (in thousands of dollars). The Excel/Mega-Stat output given below summarizes the results of fitting a simple linear regression model using this data.
Regression Analysis

\begin{array}{rc}\mathrm{r}^{2} 0.762 & \mathrm{n} 7 \\\mathrm{R} 0.873 & \mathrm{k} \text { 1 } \\\text { Std. Error 11.547 } & \text { Dep. Var. Sales }\end{array}

ANOVA
table

\begin{array}{rrrrrr}\hline \text { Source } & S S & d f & M S & F & p \text {-value } \\\hline \text { Regression } & 2,133.3333 & 1 & 2,133.3333 & 16.00 & .0103 \\\text { Residual } & 666.6667 & 5 & 133.3333 & & \\\hline \text { Total } & 2,800.0000 & 6 & & &\\\hline\end{array}

\text { Regression output }

\quad

\quad

\quad

\quad

\quad

\quad

\quad

\quad

\quad

\quad

\quad

\quad

\quad

\quad

\quad

\quad

\quad

\quad

\quad

\text { Confidence interval }

\begin{array}{rrrrrrrr}\hline\text { Variables} & \text { Coefficients } & \text { std. error } & t(d f=5) & \text { p-value } & 95 \% &95 \% \text { upper } \\& & & & & \text { lower } & \\\hline \text { Intercep } & 63.3333 & 7.9682 & 7.948 & .0005 & 42.8505 & 83.8162 \\\text { Advertising } & 6.6667 & 1.6667 & 4.000 & .0103 & &\end{array}

-In testing the simple linear regression equation for significance at a significance level of 0.05,what is the critical value for the F test?
A)16.26
B)10.01
C)6.61
D)230.2
E)5.79

A Data Set with 7 Observed Pairs of Data (X ∑X\sum X∑X

Multiple Choice

Correct Answer:VerifiedUnlock this answer nowGet Access to more Verified Answers free of chargeAccess For Free

A Data Set with 7 Observed Pairs of Data (X $\sum X$

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