PROBLEM 1
The data regarding cost and related variables of a promotional insert in major magazines is given in the Table below. Answer the questions that follow.
A) Develop the Multiple Regression equation using EXCEL (the dependent variable Y is cost of a promotional insert).
B) Using the equation developed in A, compute the predicted cost of a promotional insert cost for a circulation of 7000, with a median age of 43 and median income of $25,000?
C) Is the overall regression line significant at 0.10 level?
D) Is median age significant at 0.10 level?
E) Which independent variable/s, if any, would you omit and why?
F) Drop only one of these that you identified in Question E and re-run the multiple regression on EXCEL. Are there any improvements in the t-Stat or p-value?
NEED ALL EXCEL SPREADSHEET AND SUPPORTING INFORMATION