Essay
The Brock Juice Company has developed a regression model relating sales (Y in $10,000s) with four independent variables. The four independent variables are price per unit (X1, in dollars), competitor's price (X2, in dollars), advertising (X3, in $1,000s) and type of container used (X4) (1 = Cans and 0 = Bottles). Part of the regression results are shown below:
a.Compute the coefficient of determination and fully interpret its meaning.
b.Is the regression model significant? Explain what your answer implies. Let = 0.05.
c.What has been the sample size for this analysis?
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a.0.3135; 31.35% of variation in sales i...View Answer
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