A shoe store developed the following estimated regression equation relating sales to inventory inves
Question: A shoe store developed the following estimated regression equation relating sales to inventory investment and advertising expenditures.
^y=25+10x1+8x2
where
x1=inventory in investment ($1000)
x2= advertising expenditures $(1000)
y= sales ($1000s)
a. Estimate sales resulting from$ 15,000 investment in inventory and an advertising budget of $10000.
b. Interpret b1 and b2 in this estimated regression equation.
Price: $2.99
See Solution: The solution consists of 1 page
Deliverables: Word Document
Deliverables: Word Document
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(See Solution) ^y=25+10x1+8x2 The data used to develop the model came from survey of 10 stores; for those Data SST= #27809
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