Question
The marketing department of an industrial supplier is conducting a study to determine the factors that can affect corporate sales levels. The supplier has invited
The marketing department of an industrial supplier is conducting a study to determine the factors that can affect corporate sales levels. The supplier has invited 50 customers (purchasing managers) to participate in a survey, see results in sheet "Data". To estimate monthly sales, using Excel's Regression tool, obtain and paste the Regression output below the data and answer the following questions (ignore that some numbers keep changing, just answer based on your output).
Survey Participant | Supplier's Average Product Delivery Time (Days) | Rate Supplier's Product Price (1 Overpriced to 5 Underpriced) | Rate Supplier's Product Quality (1 Poor to 10 Excellent) | Rate Supplier's Image (1 Poor to 10 Excellent) | Participant's Size Compared To Others (0 Smaller, 1 Larger) | Monthly Sales (In 1000s units, average) |
Company 1 | 4 | 4 | 9 | 6 | 1 | 12.5 |
Company 2 | 4 | 1 | 5 | 5 | 0 | 10.8 |
Company 3 | 5 | 2 | 5 | 6 | 0 | 13.2 |
Company 4 | 3 | 0 | 5 | 3 | 0 | 10.3 |
Company 5 | 3 | 4 | 8 | 7 | 0 | 11.5 |
Company 6 | 3 | 2 | 5 | 5 | 0 | 12.5 |
Company 7 | 3 | 1 | 6 | 4 | 0 | 9.1 |
Company 8 | 3 | 4 | 9 | 6 | 1 | 12.2 |
Company 9 | 3 | 4 | 6 | 5 | 1 | 8.4 |
Company 10 | 5 | 2 | 6 | 5 | 0 | 12.9 |
Company 11 | 5 | 3 | 8 | 6 | 0 | 14.3 |
Company 12 | 6 | 0 | 7 | 5 | 0 | 11.8 |
Company 13 | 5 | 4 | 10 | 7 | 0 | 16.7 |
Company 14 | 3 | 4 | 8 | 6 | 1 | 10.3 |
Company 15 | 2 | 1 | 6 | 3 | 1 | 9.6 |
Company 16 | 3 | 5 | 8 | 6 | 1 | 12.6 |
Company 17 | 4 | 1 | 7 | 5 | 0 | 12.6 |
Company 18 | 5 | 1 | 7 | 6 | 0 | 14 |
Company 19 | 3 | 1 | 7 | 4 | 1 | 8.4 |
Company 20 | 4 | 3 | 5 | 4 | 0 | 15.1 |
Company 21 | 6 | 1 | 5 | 8 | 0 | 12.4 |
Company 22 | 4 | 2 | 4 | 5 | 0 | 13.3 |
Company 23 | 5 | 3 | 6 | 5 | 0 | 13 |
Company 24 | 4 | 1 | 5 | 6 | 0 | 9.8 |
Company 25 | 4 | 2 | 7 | 6 | 0 | 10.5 |
Company 26 | 5 | 1 | 7 | 7 | 0 | 12.1 |
Company 27 | 5 | 2 | 5 | 6 | 0 | 13.6 |
Company 28 | 3 | 1 | 8 | 6 | 1 | 7.7 |
Company 29 | 3 | 5 | 9 | 5 | 1 | 12.4 |
Company 30 | 3 | 2 | 9 | 5 | 1 | 7.6 |
Company 31 | 2 | 3 | 8 | 5 | 1 | 10.9 |
Company 32 | 2 | 2 | 7 | 5 | 1 | 10.9 |
Company 33 | 5 | 4 | 9 | 6 | 1 | 11.5 |
Company 34 | 3 | 2 | 4 | 5 | 0 | 12.5 |
Company 35 | 1 | 4 | 7 | 5 | 1 | 11.9 |
Company 36 | 2 | 3 | 9 | 4 | 1 | 10.6 |
Company 37 | 5 | 2 | 5 | 3 | 0 | 12.7 |
Company 38 | 4 | 2 | 8 | 5 | 0 | 14.2 |
Company 39 | 4 | 4 | 9 | 6 | 1 | 12.1 |
Company 40 | 5 | 2 | 6 | 4 | 0 | 10.2 |
Company 41 | 4 | 4 | 8 | 6 | 1 | 12 |
Company 42 | 0 | 2 | 9 | 5 | 1 | 6.3 |
Company 43 | 6 | 2 | 8 | 5 | 0 | 16.1 |
Company 44 | 3 | 3 | 8 | 7 | 0 | 14.7 |
Company 45 | 2 | 3 | 8 | 7 | 0 | 12.9 |
Company 46 | 3 | 4 | 8 | 7 | 0 | 15.6 |
Company 47 | 2 | 2 | 9 | 5 | 1 | 6.2 |
Company 48 | 5 | 1 | 4 | 5 | 0 | 13.3 |
Company 49 | 2 | 3 | 10 | 5 | 1 | 9.5 |
Company 50 | 2 | 5 | 9 | 5 | 1 | 11.7 |
FIRST Regression output, THEN
1, What is the interpretation of adjusted R-square for this problem?
2,What Monthly Sales would you predict for a company with Delivery Time = 4 days, Rate Price = 4, Rate Quality = 7, Rate Image = 5, Smaller?
3, Provide the appropriate test statistic and p-value for assessing whether there is evidence that Delivery Time can predict Monthly Sales.
test statistic ---->
p-value ----->
4, Is the overall model significant at 0.05 level of significance? Why or Why not.
5, Does Delivery Time aid in predicting Monthly Sales at 0.05 level of significance? Why or Why not.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started