The following output has been obtained from examining the relationship between gross takings and the two variables - the number of sales staff and floor space. Regression Statistics

(Multiple R 0.45 R Square 0.20 Adjusted R square 0.17 Standard Error 53733.37 F stat 23.33 *** (significant at 5% level)

Gross takings = -521231.03 + 1066.02Flspace + -3890.64 Staff. (195554.49) (307.03) (3914.45)

Figures in parentheses are standard errors

(a) Give full explanations of all the statistical terms reported in this output.

(b) Given your answers in (a), prepare a report on the findings of the regression output which will be given to a manager with limited statistical knowledge.