Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Sample data for the total sales credited to a sales representative, the number of accounts he/she manages and whether there has been an increase or

image text in transcribed
Sample data for the total sales credited to a sales representative, the number of accounts he/she manages and whether there has been an increase or decrease in the market share over the previous four years (lncrease=1, Decrease=0) were collected with the purpose to create a model that can be use to predict the total sales. The following tables show the output obtained when fitting a linear model. DF Sum Square Mean Square F P Value Regression 3 68752.118 22917373 30317 0 Error 21 15874312 755.92 Total 24 84626.43 Coefficients Standard Errors T Statistic P Value Intercept 6.667 10.727 0.621 0.541 mAmaum 0.565 0.076 7.464 0 zChange 69.964 10.826 6.463 0 1. State the population model. 2. State the least square estimated equations. 3. Provide the intepretation of the coefficients of the model. 4. Use alpha = 0.04 . Which independent variables have a significant relationship with the level of sales? 5. Test the overall significance of the model. State your conclusion. Use alpha: 0.04 6. Does this model provide a good fit to the data. Justify your answer. '1' T I Arial v 3(12pt) v '1' - E ' Elv c9 63 l3 3: 3 n V l l Path: p Words:0 A

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Finite Math And Applied Calculus

Authors: Stefan Waner, Steven Costenoble

7th Edition

1337515566, 9781337515566

More Books

Students also viewed these Mathematics questions