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Question
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 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 whether the model is significant overall. Use
= 0.10.c. Determine if price is significantly related to sales. Use
= 0.10.d. Determine if advertising is significantly related to sales. Use
= 0.10.e. Find and interpret the multiple coefficient of determination.
Answer
This answer is hidden. It contains 995 characters.
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