Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A regression analysis relating a company's sales, their advertising expenditure, price (per unit), and time (taken per unit production) resulted in the following output. Regression

image text in transcribed
A regression analysis relating a company's sales, their advertising expenditure, price (per unit), and time (taken per unit production) resulted in the following output. Regression Statistics Time left 2:35:22 Multiple R 0.9895 R Square 0.9791 Adjusted R Square 0.9762 Standard Error 232.29 Observations 25 ANOVA df SS MS F Significance F Regression 3 53184931.86 17728310.62 328.56 0.0000 Residual 21 1133108.30 53957.54 24 Total 54318040.16 Standard Coefficients Error t Stat P-value Intercept 927.23 1229.86 15 0 75 0.4593 Advertising (x1) 1.02 3.09 0.33 0.7450 Price (x2) 15.61 5.62 2.78 0.0112 Time (x3) 170.53 28.18 6.05 0.0000 Using a = 01, determine whether or not the regression model is significant. a Significant At a = .01, determine which variables are significant and which are not -Advertising (x1) Significant b Price (x2) Time (x3) What is the multiple coefficient of determination? (use same precision as provided)

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

Intermediate Accounting Volume 2

Authors: Thomas H. Beechy

5th Edition

0071091319, 978-0071091312

More Books

Students also viewed these Accounting questions

Question

=+ Do you see any potential problems with the analysis?

Answered: 1 week ago

Question

2. Information that comes most readily to mind (availability).

Answered: 1 week ago