SOLUTION: 1. From a regression analysis of sales with respect to advertising expenses in a study for a department store chain, the following output is obtained (use 0.05 significance level):
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-> SOLUTION: 1. From a regression analysis of sales with respect to advertising expenses in a study for a department store chain, the following output is obtained (use 0.05 significance level):
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Question 189718: 1. From a regression analysis of sales with respect to advertising expenses in a study for a department store chain, the following output is obtained (use 0.05 significance level):
SUMMARY OUTPUT
Regression Statistics
Multiple R 0.954
R Square 0.91
Adjusted R Square 0.902
Standard Error 936.85
ANOVA
df SS MS F
Regression 1 10621 10621 121.01
Residual 12 1053.2 87.768
Total 13 11674
Coefficients Standard Error t Stat P-value
Intercept 901.25 513.02 1.757 0.104
Advertising 1.686 0.153 11 0.000
(e) What is the regression equation?
(c) Is advertising expenses a significant factor for sales? Please give reason.
(f) Predict the sales volume if $5000 is spent on advertising.
(g) Determine the correlation coefficient
(h) Provide an interpretation of the correlation coefficient
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