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Question
The Natural Drink Company has developed a regression model relating its sales (yin $10,000s) with four independent variables. The four independent variables are price per unit (PRICE, in dollars), competitor's price (COMPRICE, in dollars), advertising (ADV, in $1,000s) and type of container used(CONTAIN; 1 = Cans and 0 = Bottles). Part of the regression results is shown below. (Assume n = 25)
| Coefficient | Standard Error | |
| Intercept | 443.143 | |
| PRICE | -57.170 | 20.426 |
| COMPRICE | 27.681 | 19.991 |
| ADV | 0.025 | 0.023 |
| CONTAIN | -95.353 | 91.027 |
a. If the manufacturer uses can containers, his price is $1.25, advertising $200,000, and his competitor's price is $1.50, what is your estimate of his sales? Give your answer in dollars.
b. Test to see if there is a significant relationship between sales and unit price. Let
= 0.05.c. Test to see if there is a significant relationship between sales and advertising. Let
= 0.05.d. Is the type of container a significant variable?
Let
= 0.05.e. Test to see if there is a significant relationship between sales and competitor's price. Let ï¡= 0.05.
Answer
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