Mountain Bike Sales (n=30 stores ) Use the Excel data file named "bike data" which is uploaded to Canvas and answer the following questions: 1. Observations are taken on sales of a certain mountain bike in 30 sporting goods stores. = total sales (thousands of dollars), X1 = display floor space (square meters), X2 = competitors' advertising expenditures (thousands of dollars), X3= advertised price (dollars per unit). a. Estimate the multiple regression equation using Excel. b. Interpret each coefficient. c. Would the intercept seem to have meaning in this regression? d. Make a prediction for Sales when FloorSpace =80, CompetingAds =100, and Price =1,200. 2. Refer to the ANOVA table in Excel output. a. State the degrees of freedom for the F test for overall significance. b. Use F table to find the critical value of F for =.05. c. Calculate the F statistic. Is the regression significant overall? d. Calculate coefficient of determination and adjusted coefficient of determination, showing your formulas clearly. e. Calculate the t statistic for each coefficient to test for B=0. f. Look up the critical value of Student's t in the Appendix for a two-tailed test at =.01. Which coefficients differ significantly from zero? g. Use Excel to find the p-value for each coefficient and repeat f by using the p-value approach. Mountain Bike Sales (n=30 stores ) Use the Excel data file named "bike data" which is uploaded to Canvas and answer the following questions: 1. Observations are taken on sales of a certain mountain bike in 30 sporting goods stores. = total sales (thousands of dollars), X1 = display floor space (square meters), X2 = competitors' advertising expenditures (thousands of dollars), X3= advertised price (dollars per unit). a. Estimate the multiple regression equation using Excel. b. Interpret each coefficient. c. Would the intercept seem to have meaning in this regression? d. Make a prediction for Sales when FloorSpace =80, CompetingAds =100, and Price =1,200. 2. Refer to the ANOVA table in Excel output. a. State the degrees of freedom for the F test for overall significance. b. Use F table to find the critical value of F for =.05. c. Calculate the F statistic. Is the regression significant overall? d. Calculate coefficient of determination and adjusted coefficient of determination, showing your formulas clearly. e. Calculate the t statistic for each coefficient to test for B=0. f. Look up the critical value of Student's t in the Appendix for a two-tailed test at =.01. Which coefficients differ significantly from zero? g. Use Excel to find the p-value for each coefficient and repeat f by using the p-value approach
