Question- In order to determine whether or not the sales volume of a company (y in millions of dollars) is related to advertising expenditures (x1 in millions of dollars) and the number of salespeople (x2) data were gathered for 10 years. Part of the Excel output is shown below:
ANOVA
df SS MS F
Regression 321.11
Residual 63.39
| |
Coefficients
|
Standard Error |
|
Intercept
|
7.0174
|
1.8972
|
|
x1
|
8.6233
|
2.3968
|
|
x2
|
0.0858
|
0.1845
|
a. Use the above results and write the regression equation that can be used to predict sales.
b. Estimate the sales volume for an advertising expenditure of 3.5 million dollars and 45 salespeople. Give your answer in dollars.
c. At alpha = 0.01, 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 alpha = 0.01, test to see if the coefficient of x1 is significantly different from zero.
e. At alpha = 0.01, test to see if the coefficient of x2 is significantly different from zero.
f. Determine the multiple coefficient of determination.
g. Compute the adjusted coefficient of determination.