Question
Observations are taken on sales of a certain mountain bike in 30 sporting goods stores. The regression model was Y = total sales (thousands of
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 dollars), X3 = advertised price (dollars per unit).
Predictor | Coefficient |
---|---|
Intercept | 1,286.84 |
FloorSpace | 13.87 |
CompetingAds | 6.841 |
Price | 0.1454 |
(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.)
y^= _____________ + ___________ * FloorSpace + _____________ * CompetingAds + ______________ * Price
(d) Make a prediction for Sales when FloorSpace = 112, CompetingAds = 114, and Price = 1,386. (Enter your answer in thousands. Round your answer to 2 decimal places.)
Sales ________________ thousand
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