The owner of a restaurant in LA, has recorded sales data for the past several years. He has also recorded data on potentially relevant variables. The data tab has the necessary data.
1. Estimate a simple linear regression equation involving annual sales (the dependent variable) and the size of the population (the explanatory variable). Interpret the R square and p values - 5 points (3 points for linnear regression/equation work and 2 points for interpreting the values)
2. Estimate a simple linear regression equation involving annual sales (the dependent variable) and advertising expenditure (the explanatory variable). Interpret the R square and p values. Is this model better than the first model in question 1? - 5 points (3 points for linnear regression/equation work and 2 points for interpreting the values)
3. Estimate a multiple linear regression equation involving annual sales (the dependent variable) and the size of the population, advertising expenditure (the explanatory variables). Interpret the R square value & p values. - 20 points (15 points for multiple regression/equation, 5 points for interpreting the values)
Please Note: Solution submission should have 3 new tabs (1 for each questions 1-3 above).
Year	Sales	Population	Advertising
1	$15,713	102,558	$20,000
2	$12,937	101,792	$15,000
3	$12,872	104,347	$25,000
4	$16,227	106,180	$30,000
5	$15,388	106,562	$15,000
6	$13,180	105,209	$25,000
7	$17,199	109,185	$35,000
8	$20,674	109,976	$40,000
9	$20,350	110,659	$20,000
10	$14,444	111,844	$25,000
11	$17,530	111,576	$35,000
12	$16,711	113,784	$5,000
13	$9,715	112,482	$12,000
14	$12,248	116,487	$16,000
15	$13,856	117,316	$21,000
16	$15,285	117,830	$22,000
17	$15,620	118,148	$24,000
18	$17,158	118,481	$26,000
19	$17,800	121,069	$28,000