Essay
In order to determine whether or not the number of automobiles sold per day (y) is related to price (x1 in $1,000), and the number of advertising spots (x2), data were gathered for 7 days. Part of the Excel output is shown below.
a.Determine the least squares regression function relating y to x1 and x2.
b.If the company charges $20,000 for each car and uses 10 advertising spots, how many cars would you expect them to sell in a day?
c.At = 0.05, test to determine if the fitted equation developed in Part a represents a significant relationship between the independent variables and the dependent variable.
d.At = 0.05, test to see if 1 is significantly different from zero.
e.Determine the multiple coefficient of determination.
Correct Answer:
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a.
= 0.8051 + 0.4977x1 + 0.4773x...View Answer
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Correct Answer:
Verified
= 0.8051 + 0.4977x1 + 0.4773x...View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
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