Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

17.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

17.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.)

SUMMARY OUTPUT
Regression Statistics
Multiple R 0.905
R Square 0.819
Adjusted R Square 0.770
Standard Error 36.292
Observations 20
ANOVA
df SS MS F Significance F
Regression 4 89114.89 22278.7 16.915 1.9709E-05
Residual 15 19756.91 1317.1
Total 19 108871.80
Coefficients Standard Error t Stat P-value Lower 95% Upper 95%
Intercept -47.840 54.582 -0.876 0.395 -164.179 68.499
Advertising ($100s) 0.689 0.368 1.870 0.081 -0.096 1.474
Size (Acres) 167.273 21.465 7.793 0.000 121.521 213.025
Suburban 77.075 22.958 3.357 0.004 28.141 126.008
Urban 112.073 23.191 4.833 0.000 62.642 161.504

Which of the independent variables are significantly related to Traffic at the .05 level of significance?

Group of answer choices

Only Advertising ($100s)

None of the independent variables

Advertising ($100s), Suburban, Urban

Size (Acres), Suburban, Urban

All of the independent variables

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Algebra Form And Function

Authors: William G McCallum, Eric Connally, Deborah Hughes Hallett

2nd Edition

1119032091, 9781119032090

More Books

Students also viewed these Mathematics questions

Question

4. Schedule individual conferences with students.

Answered: 1 week ago

Question

5. How can I help others in the network achieve their goals?

Answered: 1 week ago