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Question
The following regression model has been proposed to predict monthly sales at a shoe store.
= 40 " 3x1+ 12x2+ 10x3where
x1= competitor's previous month's sales (in $1,000s)
x2= Stores previous month's sales (in $1,000s)
= sales (in $1000s)a. Predict sales (in dollars) for the shoe store if the competitor's previous month's sales were $9,000, the store's previous month's sales were $30,000, and no radio advertisements were run.
b. Predict sales (in dollars) for the shoe store if the competitor's previous month's sales were $9,000, the store's previous month's sales were $30,000, and 10 radio advertisements were run.
Answer
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