Question:

 Write out the regression equation from the EXCEL or Megastat output with sales as the dependent variable and the remaining variables as the independent variables.

 Interpret the coefficients of Income and Price.

 Suppose that Age is 27, HS is 41.3, Income is 2948, Black is 26.2, Female is 51.7, Price is 42.7. What are the predicted sales based on the regression?

 Explain the concept of standard error of regression (SEE). Is this SEE too high or low? Explain.

 Test the statistical significance of each of the independent variables.

 Compute a 95% confidence interval for the true regression coefficient for the Income variable. Interpret.

 What is the R ² of this regression? Interpret. What is the adjusted R ² of this regression? Interpret. Should the R ² or the adjusted R ² be used as the measure of "goodness of fit?" Explain.

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