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The Manufacturer of a Light Fixture Believes That the Dollars β\beta

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The manufacturer of a light fixture believes that the dollars spent on advertising,the price of the fixture,and the number of retail stores selling the fixture in a particular month,influence the light fixture sales.The manufacturer randomly selects 10 months and collects the following data: The manufacturer of a light fixture believes that the dollars spent on advertising,the price of the fixture,and the number of retail stores selling the fixture in a particular month,influence the light fixture sales.The manufacturer randomly selects 10 months and collects the following data: The sales are in thousands of units per month,the advertising is given in hundreds of dollars per month,and the price is the unit retail price for the particular month.Using MINITAB the following computer output is obtained. The regression equation is Sales = 31.0 + 0.820 Advertising - 0.325 Price + 1.84 Stores S = 5.465 R - Sq = 96.7% R - Sq(adj)= 95.0% Analysis of Variance Based on the multiple regression model given above,the point estimate of the monthly light fixture sales corresponding to second sample data is 49.82 or 49,820 units.This point estimate is calculated based on the assumption that the company spends $4000 on advertising,the price of the fixture is $60 and the fixture is being sold at 3 retail stores.Additional information related to this point estimate is given below. Test the usefulness of variable price in the model using the null hypothesis H<sub>0</sub>: \beta <sub>2</sub> \le 0,at \alpha = 0.05,and state your conclusions. The sales are in thousands of units per month,the advertising is given in hundreds of dollars per month,and the price is the unit retail price for the particular month.Using MINITAB the following computer output is obtained.
The regression equation is
Sales = 31.0 + 0.820 Advertising - 0.325 Price + 1.84 Stores The manufacturer of a light fixture believes that the dollars spent on advertising,the price of the fixture,and the number of retail stores selling the fixture in a particular month,influence the light fixture sales.The manufacturer randomly selects 10 months and collects the following data: The sales are in thousands of units per month,the advertising is given in hundreds of dollars per month,and the price is the unit retail price for the particular month.Using MINITAB the following computer output is obtained. The regression equation is Sales = 31.0 + 0.820 Advertising - 0.325 Price + 1.84 Stores S = 5.465 R - Sq = 96.7% R - Sq(adj)= 95.0% Analysis of Variance Based on the multiple regression model given above,the point estimate of the monthly light fixture sales corresponding to second sample data is 49.82 or 49,820 units.This point estimate is calculated based on the assumption that the company spends $4000 on advertising,the price of the fixture is $60 and the fixture is being sold at 3 retail stores.Additional information related to this point estimate is given below. Test the usefulness of variable price in the model using the null hypothesis H<sub>0</sub>: \beta <sub>2</sub> \le 0,at \alpha = 0.05,and state your conclusions.
S = 5.465 R - Sq = 96.7% R - Sq(adj)= 95.0%
Analysis of Variance The manufacturer of a light fixture believes that the dollars spent on advertising,the price of the fixture,and the number of retail stores selling the fixture in a particular month,influence the light fixture sales.The manufacturer randomly selects 10 months and collects the following data: The sales are in thousands of units per month,the advertising is given in hundreds of dollars per month,and the price is the unit retail price for the particular month.Using MINITAB the following computer output is obtained. The regression equation is Sales = 31.0 + 0.820 Advertising - 0.325 Price + 1.84 Stores S = 5.465 R - Sq = 96.7% R - Sq(adj)= 95.0% Analysis of Variance Based on the multiple regression model given above,the point estimate of the monthly light fixture sales corresponding to second sample data is 49.82 or 49,820 units.This point estimate is calculated based on the assumption that the company spends $4000 on advertising,the price of the fixture is $60 and the fixture is being sold at 3 retail stores.Additional information related to this point estimate is given below. Test the usefulness of variable price in the model using the null hypothesis H<sub>0</sub>: \beta <sub>2</sub> \le 0,at \alpha = 0.05,and state your conclusions.
Based on the multiple regression model given above,the point estimate of the monthly light fixture sales corresponding to second sample data is 49.82 or 49,820 units.This point estimate is calculated based on the assumption that the company spends $4000 on advertising,the price of the fixture is $60 and the fixture is being sold at 3 retail stores.Additional information related to this point estimate is given below. The manufacturer of a light fixture believes that the dollars spent on advertising,the price of the fixture,and the number of retail stores selling the fixture in a particular month,influence the light fixture sales.The manufacturer randomly selects 10 months and collects the following data: The sales are in thousands of units per month,the advertising is given in hundreds of dollars per month,and the price is the unit retail price for the particular month.Using MINITAB the following computer output is obtained. The regression equation is Sales = 31.0 + 0.820 Advertising - 0.325 Price + 1.84 Stores S = 5.465 R - Sq = 96.7% R - Sq(adj)= 95.0% Analysis of Variance Based on the multiple regression model given above,the point estimate of the monthly light fixture sales corresponding to second sample data is 49.82 or 49,820 units.This point estimate is calculated based on the assumption that the company spends $4000 on advertising,the price of the fixture is $60 and the fixture is being sold at 3 retail stores.Additional information related to this point estimate is given below. Test the usefulness of variable price in the model using the null hypothesis H<sub>0</sub>: \beta <sub>2</sub> \le 0,at \alpha = 0.05,and state your conclusions.
Test the usefulness of variable "price" in the model using the null hypothesis H0: β\beta 2 ≤\le 0,at α\alpha = 0.05,and state your conclusions.

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Reject H0.We have s...

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