Stats Solutions

(See Steps) A company has recorded data on the weekly sales for its product (y), the unit price of the competitor's product (x 1), and advertising expenditures

Question: A company has recorded data on the weekly sales for its product ( y ), the unit price of the competitor's product ( x 1 ), and advertising expenditures ( x 2 ). 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.

Price: $2.99
Solution: The downloadable solution consists of 2 pages
Deliverable: Word Document


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