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Question
The Very Fresh Juice Company has developed a regression model relating sales (yin $10,000s) with four independent variables. The four independent variables are price per unit (x1, in dollars), competitor's price (x2, in dollars), advertising (x3, in $1,000s) and type of container used (x4where 1 = Cans and 0 = Bottles). Part of the regression results are shown below:| Source of Variation | Degrees of Freedom | Sum of Squares | Mean Square | F |
| Regression | 4 | 283,940.60 | ||
| Error | 18 | 621,735.14 | ||
| Total |
a. Compute the coefficient of determination and fully interpret its meaning.
b. Is the regression model significant? Explain what your answer implies. Let
= 0.05.c. What has been the sample size for this analysis?
Answer
This answer is hidden. It contains 117 characters.
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