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Philco Pharmacy wishes to determine the relationship between advertising expense and sales revenue the following month. Philco ran an Excel regression analysis on 36 months of data and derived the Excel out below: 10 D SUMMARY OUTPUT Finis Regression Statistics Multiple R 0.8132067 R Square 0.6613052 Adjusted R Square 0.6513436 Standard Error 503027.26 Observations 36 ) ANOVA df SS MS F ignificance F 2 Regression 1 1.67979E+13 1.67979E+13 66.38535266 1.67E-09 3 Residual 34 8.60324E+12 2.53036E+11 Total 35 2.54012E+13 Coefficients Standard Error t Stat P-value Intercept -2618921 1183395.004 -2.213057494 0.033708295 3 Advertising Expens, 60.503654 7.425837938 ???? 1.67328E-09 Philco's advertising expenses have ranged from $138,000 per month to $180,000 per month since the company was started 3 years ago. Question #1 - Write down the regression model equation for the data supplied in good form. (2 marks)Pharmacy wishes to determine the relationship between advertising experie aug saves revenue the following month, Philco ran an Excel regression analysis on 36 months of data and derived the Excel out below: D SUMMARY OUTPUT Regression Statistics Multiple R 0.8132067 R Square 0.6613052 Adjusted R Square 0.6513436 Standard Error 503027.26 Observations 36 ANOVA df SS MS F ignificance F 2 Regression 1 1.67979E+13 1.67979E+13 66.38535266 1.67E-09 3 Residual 34 8.60324+12 2.53036E+11 | Total 35 2.54012E+13 w. Coefficients Standard Error t Stat P-value Intercept -2618921 1183395.004 -2.213057494 0.033708295 3 Advertising Expens 60.503654 7.425837938 ??? ? 1.67328E-09 Philco's advertising expenses have ranged from $138,000 per month to $180,000 per month since the company was started 3 years ago. Question #2 - State whether advertising expense is a powerful enough predictor of the following month's revenue to be useful in a business setting. You must defend your statement by giving your reasons and any statistics or benchmarks considered. (2 marks)Philco Pharmacy wishes to determine the relationship between advertising expense and sales revenue the following month. Philco ran an Excel regression analysis on 36 months of data and derived the Excel out below: D SUMMARY OUTPUT Regression Statistics Multiple R 0.8132067 R Square 0.6613052 Adjusted R Square 0.6513436 Standard Error 503027.26 Observations 36 ) ANOVA df SS MS F ignificance F 2 Regression 1 1.67979E+13 1.67979E+13 66.38535266 1.67E-09 3 Residual 34 8.60324E+12 2.53036E+11 Total 35 2.54012E+13 t Stat P-value v. Coefficients Standard Error 7 Intercept -2618921 1183395.004 -2.213057494 0.033708295 3 Advertising Expens 60.503654 7.425837938 ???? 1.67328E-09 Philco's advertising expenses have ranged from $138,000 per month to $180,000 per month since the company was started 3 years ago. Question #3 - Use your regression model to predict next month's revenue if advertising expense is expected to be $250,000 this month. (2 marks)Philco Pharmacy wishes to determine the relationship between advertising expense and sales revenue the following month. Philco ran an Excel regression analysis on 36 months of date and 10 derived the Excel out below: SUMMARY OUTPUT Finish Regression Statistics Multiple R 0.8132067 R Square 0.6613052 Adjusted R Square 0.6513436 Standard Error 503027.26 Observations 36 ) ANOVA df SS MS F ignificance F 2 Regression 1 1.67979E+13 1.67979E+13 66.38535266 1.67E-09 3 Residual 34 8.60324E+12 2.53036E+11 Total 35 2.54012E+13 Coefficients Standard Error t Stat P-value / Intercept 2618921 1 183395.004 -2.213057494 0.033708295 3 Advertising Expens, 60.503654 7.425837938 ???? 1.67328E-09 Philco's advertising expenses have ranged from $138,000 per month to $180,000 per month since the company was started 3 years ago. Question #4 - Comment on the Economic Plausibility of this regression model (2 marks). Give a complete and specific answer suitable for a second year college accounting student