A company has recorded data on the weekly sales for its product (y), the unit price of the competitor's product (x1), and advertising expenditures (x2). The data resulting from a random sample of 7 weeks follows. Use SPSS or Excel's Regression Tool to answer the following questions.
|
Week
|
Price
|
Advertising
|
Sales
|
|
1
|
.33
|
5
|
20
|
|
2
|
.25
|
2
|
14
|
|
3
|
.44
|
7
|
22
|
|
4
|
.40
|
9
|
21
|
|
5
|
.35
|
4
|
16
|
|
6
|
.39
|
8
|
19
|
|
7
|
.29
|
9
|
15
|
a. What is the estimated regression equation?
b. Determine if price is significantly related to sales. Use a = 0.10.
c. Determine if advertising is significantly related to sales. Use a = 0.10.
d. Find and interpret the multiple coefficient of determination, R2.