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The Very Fresh Juice Company Has Developed a Regression Model α\alpha

Question 83

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The Very Fresh 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: The Very Fresh 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 (x<sub>1</sub>, in dollars), competitor's price (x<sub>2</sub>, in dollars), advertising (x<sub>3</sub>, in $1,000s) and type of container used (x<sub>4</sub>) (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 \alpha = 0.05. c.What has been the sample size for this analysis?
a.Compute the coefficient of determination and fully interpret its meaning.
b.Is the regression model significant? Explain what your answer implies. Let α\alpha = 0.05.
c.What has been the sample size for this analysis?

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a.0.3135; 31.35% of variation ...

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