Essay
The following is part of the results of a regression analysis involving sales (y in millions of dollars), advertising expenditures (x1 in thousands of dollars), and number of salespeople (x2) for a corporation. The regression was performed on a sample of 10 observations.
a.Write the regression equation.
b.Interpret the coefficients of the estimated regression equation found in Part (a).
c.At =0.05, test for the significance of the coefficient of advertising.
d.At =0.05, test for the significance of the coefficient of number of salespeople.
e.If the company uses $50,000 in advertisement and has 800 salespersons, what are the expected sales? Give your answer in dollars.
Correct Answer:
Verified
a.
= -11.34 + 0.798x1 + 0.141x2
b.As advert...View Answer
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Correct Answer:
Verified
= -11.34 + 0.798x1 + 0.141x2b.As advert...
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
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