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A corporation owns several companies. The strategic planner for the corporation believes dollars spent on advertising can to some extent be a predictor of total
A corporation owns several companies. The strategic planner for the corporation believes dollars spent on advertising can to some extent be a predictor of total sales dollars. She wants to use a regression analysis to predict Sales using Advertising spending and gathers the following sales and advertising information from several of the companies for 2013 ($ millions). Advertising (x) Sales (y) 12.5 148 3.7 55 21.6 338 60 994 37.6 541 6.1 89 16.8 126 41.2 379 What is the estimated regression equation? Predicted Advertising = 5.66 + 0.06*Sales Predicted Sales = -46.29 + 15.24*Advertising Predicted Advertising = 5.27 +0.06 Sales Predicted Sales = 46.29 + 15.24*Advertising Referring to the previous question, is the estimated regression equation statistically significant (alpha = 0.01)? Support your conclusion by citing the appropriate statistic. The model is statistically significant because the Significance F is below 0.01. The model is statistically significant because the p-value for Intercept is above 0.01. The model is not statistically significant because the p-value for Advertising is below 0.01 The model is not statistically significant because the significance F is below 0.01
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