Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The owner of a pizza restaurant chain would like to predict the sales of her specialty, the deep-dish Mexican pizza. She has gathered data

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

The owner of a pizza restaurant chain would like to predict the sales of her specialty, the deep-dish Mexican pizza. She has gathered data on monthly sales of the deep-dish Mexican pizza at her restaurants. She has also gathered information related to the average price of the deep-dish pizzas, the monthly advertising expenditures and the disposable income per household in the areas surrounding the restaurants. Below you will find output from the stepwise regression analysis. The p-value method was used with a cutoff of 0.05. Summary measures Multiple R R-Square Adj R-Square StErr of Estimate Regression coefficients 0.9513 0.9049 0.8990 3924.53 Coefficient Constant -45233.64 Monthly Adv. Expenditures 1.972 Std Err 8914.72 0.160 t-value p-value -5.0740 0.0001 12.3405 0.0000 The owner of a pizza restaurant chain would like to predict the sales of her specialty, the deep-dish Mexican pizza. She has gathered data on monthly sales of the deep-dish Mexican pizza at her restaurants. She has also gathered information related to the average price of the deep-dish pizzas, the monthly advertising expenditures and the disposable income per household in the areas surrounding the restaurants. Below you will find output from the stepwise regression analysis. The p-value method was used with a cutoff of 0.05. Summary measures Multiple R R-Square Adj R-Square StErr of Estimate Regression coefficients 0.9513 0.9049 0.8990 3924.53 Coefficient Constant -45233.64 Monthly Adv. Expenditures 1.972 Std Err 8914.72 0.160 t-value p-value -5.0740 0.0001 12.3405 0.0000 Disposable income variable being added Summary measures % Change Multiple R 0.9608 1.0% R-Square 0.9232 2.0% Adj R-Square 0.9130 1.6% StErr of Estimate 3643.11 -7.2% Average price variable being added Summary measures Multiple R R-Square Adj R-Square StErr of Estimate % Change 0.9723 1.2% 0.9454 2.4% 0.9337 2.3% 3179.03 -12.7% Regression coefficients Coefficient Std Err t-value p-value Constant -73971.53 23803.23 -3.1076 0.0077 Monthly Adv. Expenditures 0.952 0.375 2.5387 0.0236 Disposable Income 2.606 0.977 2.6659 0.0184 Average Price -2056.27 861.342 -2.3873 0.0316 Choose all the correct statements for a 0.10 significance level. The owner of a pizza restaurant chain would like to predict the sales of her specialty, the deep-dish Mexican pizza. She has gathered data on monthly sales of the deep-dish Mexican pizza at her restaurants. She has also gathered information related to the average price of the deep-dish pizzas, the monthly advertising expenditures and the disposable income per household in the areas surrounding the restaurants. Below you will find output from the stepwise regression analysis. The p-value method was used with a cutoff of 0.05. Summary measures Multiple R R-Square Adj R-Square StErr of Estimate Regression coefficients 0.9513 0.9049 0.8990 3924.53 Coefficient Constant -45233.64 Monthly Adv. Expenditures 1.972 Std Err 8914.72 0.160 t-value p-value -5.0740 0.0001 12.3405 0.0000

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_2

Step: 3

blur-text-image_3

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

Discovering Advanced Algebra An Investigative Approach

Authors: Jerald Murdock, Ellen Kamischke, Eric Kamischke

1st edition

1559539844, 978-1604400069, 1604400064, 978-1559539845

More Books

Students also viewed these Mathematics questions

Question

Why are graphical aggregate planning methods useful?

Answered: 1 week ago

Question

What is the measure of reliability of a confidence interval?

Answered: 1 week ago

Question

3. Compute E[B(t1)B(t2)B(t3)] for t1 Answered: 1 week ago

Answered: 1 week ago

Question

7. Compute an expression for P max t1st2 B(s) > x

Answered: 1 week ago