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12.An automobile manufacturer has 20 franchised dealers in a large metropolitan area. To study factors influencing the amount of customer traffic, data were collected on

12.An automobile manufacturer has 20 franchised dealers in a large metropolitan area. To study factors influencing the amount of customer traffic, data were collected on customer traffic per week, the amount of newspaper and TV advertising by each dealer (shown in $100s), the size of their physical facilities (in acres), and the location of the dealership (Urban, Suburban or Rural).

Assume that the regression analysis resulted in the following results. (Note that a different data set was used to find these results than for earlier problems where the data were given.)

Regression Statistics
Multiple R 0.921
R Square 0.849
Adjusted R Square 0.808
Standard Error 57.000
Observations 20
ANOVA
df SS MS F Significance F
Regression 4 273224 68306.0 21.0 5.218E-06
Residual 15 48735.4 3249.0
Total 19 321959
Coefficients Standard Error t Stat P-value Lower 95% Upper 95%
Intercept 15.398 80.912 0.190 0.8516 -157.063 187.858
Advertising ($100s) 0.584 0.514 1.135 0.2740 -0.512 1.680
Size (Acres) 277.709 35.468 7.830 1.12E-06 202.110 353.308
Rural -159.902 43.615 -3.666 0.0023 -252.865 -66.938
Suburban -48.773 46.556 -1.048 0.3114 -148.005 50.459

How much variation in Traffic is explained by the regression equation (i.e., by the independent variables)?

Group of answer choices

80.8%

57.0%

92,1%

84.9%

99.3%

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