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A marketing analyst wants to examine the relationship between sales (in $1,000s) and advertising (in $100s) for firms in the food and beverage industry and
A marketing analyst wants to examine the relationship between sales (in $1,000s) and advertising (in $100s) for firms in the food and beverage industry and collects monthly data for 25 firms. He estimates the model: Sales =Bo +1 Advertising + . The following ANOVA table shows a portion of the regression results. df S MS Regression 78.24 78.24 3.57 Residual 23 504.37 21.93 Total 24 582.61 Coefficients Standard Error t-stat P-value Intercept 40.5 14 . 25 2. 842 0 . 005 Advertising 2. 66 1 .5 -1.773 0. 0594 Which of the following is the predicted Sales for a firm with Advertising of $560? Multiple Choice O $1530.1 O $40,500 O $54,900 O $148,400
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