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following regression model: S = a + bP + cN. In your regressions, you usually look for a 5%- or-better level of confidence. a. What

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following regression model: S = a + bP + cN. In your regressions, you usually look for a 5%- or-better level of confidence. a. What signs do you expect for a, b, and c? b. Your regression yields the following results: Adjusted R Square 0.619 Coefficient Standard Independent Variables S Error t Stat P-value Intercept 10313 2967 3.475 0.01775 P -379.67 131.77 -2.881 0.03453 N 0.0018 0.0060 0.307 0.77093 Interpret what these coefficients mean. c. Does price have a statistically significant effect on sales? d. Does population have a statistically significant effect on sales? e. What portion of the total variation in sales remains unexplained? f. The Bee Sneeze is considering selling in a new city, where the population is 187,500, and setting its jar of honey price at $13.50. What level of monthly sales would you expect in this new city (rounded to the nearest unit)

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