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answer please Observations are taken on sales of a certain mountain bike in 30 sporting goods stores. The regression model was Y= total sales (thousands
answer please Observations are taken on sales of a certain mountain bike in 30 sporting goods stores. The regression model was Y= total sales (thousands of dollars), X1= display floor space (square meters), X2= competitors' advertising expenditures (thousands of dollats). X3= advertised price (dollars per unit). (a) Write the fitted regression equation. (Round your coefficient CompetingAds to 3 decimal places, coefficient Price to 4 decimal places, and other values to 2 decimal places. Negative values should be indicated by a minus sign.) 9= - CompotingAds + - Price (b-1) The coefficient of FloorSpace says that each additional square foot of floor space takes away 12.2 from sales (in thousands of dollars). adds about 6.855 to sales (in thousands of dollars). adds about 12.2 to sales (in thousands of dollars). (b-3) The coefficient of Price says that each additional $1 of advertised price reduces sales by about 6.855 from sales (in thousands of dollars). takes away 12.2 from sales (in thousands of dollars). adds about 6.855 to sales (in thousands of dollars). reduces sales by about 0.1454 from sales (in thousands of dollars). (c) The intercept is not meaningful, since a mountain bike cannot sell for zero, which will happen if all the variables are zero. True (d) Make a prediction for Sales when FloorSpace =115, Competing dd s a 105, and Price =1,171. (Enter your answer in thousand Round your answer to 2 decimal places.)
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