Answered step by step
Verified Expert Solution
Question
...
1 Approved Answer
If we spend $5,000 on advertising expenses what would you expect Gross Sales to be? Base your answers on the following linear regression output. Input
If we spend $5,000 on advertising expenses what would you expect Gross Sales to be?
Base your answers on the following linear regression output. Input your answer as an integer.
| SUMMARY OUTPUT | ||||||
| Regression Statistics | ||||||
| Multiple R | 0.776 | |||||
| R Square | 0.602 | |||||
| Adjusted R Square | 0.581 | |||||
| Standard Error | 585 | |||||
| Observations | 21 | |||||
| ANOVA | ||||||
| df | SS | MS | F | Significance F | ||
| Regression | 1 | 9807108 | 9807108 | 28.691 | 0.000 | |
| Residual | 19 | 6494659 | 341824.1 | |||
| Total | 20 | 16301767 | ||||
| Coefficients | Standard Error | t Stat | P-value | Lower 95% | Upper 95% | |
| Intercept | 25992 | 260 | 100 | 0 | 25447 | 26537 |
| Advertising | 0.26 | 0.05 | 5.36 | 0.00 | 0.16 | 0.36 |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Elementary Statistics
Authors: Mario F. Triola
11th Edition
9780321500243
