Sales Management II: The Director of Sales at the Meddicorp company wants to develop a model to help explain and predict sales figures as a function of advertising expenditure (in hundreds of dollars) (ADV), bonus expenditure (in hundreds of dollars) (BONUS), market share (as a percent) (MKTSHR), and largest competitor's sales (in hundred of dollars) (COMPET). Data are available from a random sample of n = 20 territories that the company operated within during the year 2018. Sales figures are measured in thousands of dollars.

I provided the summary output as well.

A B D E 1 SALES ADV BONUS MKTSHR COMPET 2 963.5 374.27 230.98 33 202.22 3 893 408.5 236.28 29 252.77 4 1057.25 414.31 271.57 34 293.22 5 1183.25 448.42 291.2 24 202.22 6 1419.5 517.88 282.17 32 303.33 7 1547.75 637.6 321.16 29 353.88 8 1580 635.72 294.32 28 374.11 9 1071.5 446.86 305.69 31 404.44 10 1078.25 489.59 238.41 20 394.33 11 1122.5 500.56 271.38 30 303.33 12 1304.75 484.18 332.64 25 333.66 13 1552.25 618.07 261.8 34 353.88 14 1040 453.39 235.63 42 262.88 15 1045.25 440.86 249.68 28 333.66 16 1102.25 487.79 232.99 28 232.55 17 1225.25 537.67 272.2 30 273 18 1508 612.21 266.64 29 323.55 19 1564.25 601.46 277.44 32 404.44 20 1634.75 585.1 312.35 36 283.11 21 1159.25 524.56 292.87 34 222.44 22 23 SUMMARY OUTPUT Regression Statistics Multiple R 0.93991643 R Square 0.8834429 Adjusted RS 0.85236101 Standard Erre 91.5790465 Observations 20 ANOVA df Regression Residual Total SS MS F Significance F 4 953505.611 238376.403 28.4230727 7.609E-07 15 125800.826 8386.72177 19 1079306.44 Intercept ADV BONUS MKTSHR COMPET Coefficients Standard Erro 1 Stat P-value Lower 95% Upper 95% Lower 95.0% Upper 95.0% -551.79318 256.613391 -2.1502899 0.04824833 -1098.7517 4.83468 -1098.7517 4.83468 2.43292057 0.32076563 7.58472964 1.6497E-06 1.74922481 3.11661632 1.74922481 3.11661632 1.64952497 0.77285555 2.13432506 0.04972891 0.00222235 3.29682758 0.00222235 3.29682758 3.76934962 4.66250421 0.80843887 0.43147379 -6.1685429 13.7072421 -6.1685429 13.7072421 -0.0164605 0.38765098 -0.0424621 0.96669042 -0.842719 0.80979804 -0.842719 0.80979804 (a) Construct a 95% confidence interval estimate of the increase in Meddicorp's sales due to a $100 increase in competitor's sales. (Enter your answers to four decimal places.) thousands of dollars Choose the best interpretation of the confidence interval for largest competitor's sales you calculated above by mentally inserting those values in the blanks below. Based on a sample of 20 territories, we are 0.05 confident that the true average increase in largest competitor's sales for a $100 increase in Meddicorp's sales for all territories is between and thousands of dollars. Based on a sample of 20 territories, we are 95% confident that the true average increase in Meddicorp's sales for a $100 increase in largest competitor's sales for all territories is between and thousands of dollars. Based on a sample of 20 territories, we are 0.05 confident that the true average increase in Meddicorp's sales for a $100 increase in largest competitor's sales for all territories is between and thousands of dollars. Based on a sample of 20 territories, we are 95% confident that the true average increase in largest competitor's sales for a $100 increase in Meddicorp's sales for all territories is between and thousands of dollars. Choose the best summary of your analysis of the confidence interval for largest competitor's sales. The confidence interval analysis demonstrates that largest competitor's sales is an important predictor of Meddicorp sales at the a = 0.05 level because the interval does NOT include zero (That is, largest competitor's sales is important WHEN the other explanatory variables are included in the model). The confidence interval analysis demonstrates that largest competitor's sales is NOT an important predictor of Meddicorp sales at the a = 0.05 level because the interval does NOT include zero (That is, largest competitor's sales is NOT important WHEN the other explanatory variables are included in the model). The confidence interval analysis demonstrates that largest competitor's sales is an important predictor of Meddicorp sales at the a = 0.05 level because the interval includes zero (That is, largest competitor's sales is important WHEN the other explanatory variables are included in the model). The confidence interval analysis demonstrates that largest competitor's sales is NOT an important predictor of Meddicorp sales at the a = 0.05 level because the interval includes zero (That is, largest competitor's sales is NOT important WHEN the other explanatory variables are included in the model). (b) Construct a 95% confidence interval estimate of the increase in Meddicorp's sales due to a one unit increase in market share. (Enter your answers to four decimal places.) thousands of dollars Choose the best interpretation of the confidence interval for market share you calculated above by mentally inserting those values in the blanks below. Based on a sample of 20 territories, we are 0.05 confident that the true average increase in Meddicorp's sales for a 1 point increase in market share for all territories is between and thousands of dollars. Based on a sample of 20 territories, we are 95% confident that the true average increase in Meddicorp's sales for a 1 point increase in market share for all territories is between and thousands of dollars. Based on a sample of 20 territories, we are 95% confident that the true average increase in market share for a $100 increase in Meddicorp's sales for all territories is between and thousands of dollars. Based on a sample of 20 territories, we are 0.05 confident that the true average increase in market share for a $100 increase in Meddicorp's sales for all territories is between and thousands of dollars. (e) What is the impact on Meddicorp's sales for an increase of $15,000 in advertising (assuming all other things are fixed)? (Hint: Remember that the ADV variable is measured in hundreds of dollars and sales (y) is measured in thousands of dollars.) (Enter your answer to two decimal places.) X dollars What is the impact on Meddicorp's sales for an increase of $15,000 in bonuses paid (assuming all other things are fixed)? (Hint:Remember that the BONUS variable is measured in hundreds of dollars and sales (y) is measured in thousands of dollars.) (Enter your answer to two decimal places.) dollars Therefore, if the company is interested in maximizing sales revenue, an investment of $15,000 would best be spent in which area? O Advertising O Amount of Bonuses Paid A B D E 1 SALES ADV BONUS MKTSHR COMPET 2 963.5 374.27 230.98 33 202.22 3 893 408.5 236.28 29 252.77 4 1057.25 414.31 271.57 34 293.22 5 1183.25 448.42 291.2 24 202.22 6 1419.5 517.88 282.17 32 303.33 7 1547.75 637.6 321.16 29 353.88 8 1580 635.72 294.32 28 374.11 9 1071.5 446.86 305.69 31 404.44 10 1078.25 489.59 238.41 20 394.33 11 1122.5 500.56 271.38 30 303.33 12 1304.75 484.18 332.64 25 333.66 13 1552.25 618.07 261.8 34 353.88 14 1040 453.39 235.63 42 262.88 15 1045.25 440.86 249.68 28 333.66 16 1102.25 487.79 232.99 28 232.55 17 1225.25 537.67 272.2 30 273 18 1508 612.21 266.64 29 323.55 19 1564.25 601.46 277.44 32 404.44 20 1634.75 585.1 312.35 36 283.11 21 1159.25 524.56 292.87 34 222.44 22 23 SUMMARY OUTPUT Regression Statistics Multiple R 0.93991643 R Square 0.8834429 Adjusted RS 0.85236101 Standard Erre 91.5790465 Observations 20 ANOVA df Regression Residual Total SS MS F Significance F 4 953505.611 238376.403 28.4230727 7.609E-07 15 125800.826 8386.72177 19 1079306.44 Intercept ADV BONUS MKTSHR COMPET Coefficients Standard Erro 1 Stat P-value Lower 95% Upper 95% Lower 95.0% Upper 95.0% -551.79318 256.613391 -2.1502899 0.04824833 -1098.7517 4.83468 -1098.7517 4.83468 2.43292057 0.32076563 7.58472964 1.6497E-06 1.74922481 3.11661632 1.74922481 3.11661632 1.64952497 0.77285555 2.13432506 0.04972891 0.00222235 3.29682758 0.00222235 3.29682758 3.76934962 4.66250421 0.80843887 0.43147379 -6.1685429 13.7072421 -6.1685429 13.7072421 -0.0164605 0.38765098 -0.0424621 0.96669042 -0.842719 0.80979804 -0.842719 0.80979804 (a) Construct a 95% confidence interval estimate of the increase in Meddicorp's sales due to a $100 increase in competitor's sales. (Enter your answers to four decimal places.) thousands of dollars Choose the best interpretation of the confidence interval for largest competitor's sales you calculated above by mentally inserting those values in the blanks below. Based on a sample of 20 territories, we are 0.05 confident that the true average increase in largest competitor's sales for a $100 increase in Meddicorp's sales for all territories is between and thousands of dollars. Based on a sample of 20 territories, we are 95% confident that the true average increase in Meddicorp's sales for a $100 increase in largest competitor's sales for all territories is between and thousands of dollars. Based on a sample of 20 territories, we are 0.05 confident that the true average increase in Meddicorp's sales for a $100 increase in largest competitor's sales for all territories is between and thousands of dollars. Based on a sample of 20 territories, we are 95% confident that the true average increase in largest competitor's sales for a $100 increase in Meddicorp's sales for all territories is between and thousands of dollars. Choose the best summary of your analysis of the confidence interval for largest competitor's sales. The confidence interval analysis demonstrates that largest competitor's sales is an important predictor of Meddicorp sales at the a = 0.05 level because the interval does NOT include zero (That is, largest competitor's sales is important WHEN the other explanatory variables are included in the model). The confidence interval analysis demonstrates that largest competitor's sales is NOT an important predictor of Meddicorp sales at the a = 0.05 level because the interval does NOT include zero (That is, largest competitor's sales is NOT important WHEN the other explanatory variables are included in the model). The confidence interval analysis demonstrates that largest competitor's sales is an important predictor of Meddicorp sales at the a = 0.05 level because the interval includes zero (That is, largest competitor's sales is important WHEN the other explanatory variables are included in the model). The confidence interval analysis demonstrates that largest competitor's sales is NOT an important predictor of Meddicorp sales at the a = 0.05 level because the interval includes zero (That is, largest competitor's sales is NOT important WHEN the other explanatory variables are included in the model). (b) Construct a 95% confidence interval estimate of the increase in Meddicorp's sales due to a one unit increase in market share. (Enter your answers to four decimal places.) thousands of dollars Choose the best interpretation of the confidence interval for market share you calculated above by mentally inserting those values in the blanks below. Based on a sample of 20 territories, we are 0.05 confident that the true average increase in Meddicorp's sales for a 1 point increase in market share for all territories is between and thousands of dollars. Based on a sample of 20 territories, we are 95% confident that the true average increase in Meddicorp's sales for a 1 point increase in market share for all territories is between and thousands of dollars. Based on a sample of 20 territories, we are 95% confident that the true average increase in market share for a $100 increase in Meddicorp's sales for all territories is between and thousands of dollars. Based on a sample of 20 territories, we are 0.05 confident that the true average increase in market share for a $100 increase in Meddicorp's sales for all territories is between and thousands of dollars. (e) What is the impact on Meddicorp's sales for an increase of $15,000 in advertising (assuming all other things are fixed)? (Hint: Remember that the ADV variable is measured in hundreds of dollars and sales (y) is measured in thousands of dollars.) (Enter your answer to two decimal places.) X dollars What is the impact on Meddicorp's sales for an increase of $15,000 in bonuses paid (assuming all other things are fixed)? (Hint:Remember that the BONUS variable is measured in hundreds of dollars and sales (y) is measured in thousands of dollars.) (Enter your answer to two decimal places.) dollars Therefore, if the company is interested in maximizing sales revenue, an investment of $15,000 would best be spent in which area? O Advertising O Amount of Bonuses Paid