Statistics Solutions

[See Solution] The following is part of the results of a regression analysis involving sales (Y in millions of dollars), advertising expenditures (X 1 in thousands

Question: The following is part of the results of a regression analysis involving sales (Y in millions of dollars), advertising expenditures (X 1 in thousands of dollars), and number of salespeople (X 2 ) for a corporation. The regression was performed on a sample of 10 observations.

Coefficient Standard Error

Constant -11.340 20.412

X 1 0.798 0.332

X 2 0.141 0.278

  1. Write the regression equation.
  2. Interpret the coefficients of the estimated regression equation found in Part (a).
  3. At =0.05, test for the significance of the coefficient of advertising.
  4. At =0.05, test for the significance of the coefficient of number of salespeople.
  5. If the company uses $50,000 in advertisement and has 800 salespersons, what are the expected sales? Give your answer in dollars

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


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