TV Ads	Newspaper Ads	Radio Ads	Sales
1000	500	400	7000
1500	490	400	7000
2000	550	400	7200
1400	200	200	5700
2200	300	200	5900
2468	400	300	6000
1210	400	300	6200
1698	400	300	5850
2234	600	400	6500

Consider worksheet "ws1" in file "Module 3 quiz Sales.XLSX". Construct 3 different simple linear regression models where Sales is the dependent variable in each model and the independent variables are TV Ads, Newspaper Ads, and Radio Ads respectively. Look at and remember the P-values for each of the three models. Construct a new multiple linear regression model with all three independent variables (TV, Newspaper, and Radio Ads) and Sales as the dependent variable. You should now know three things:

1) the P-values of each independent variable in 3 separate simple linear regression models

2) the P-value of the full multiple regression model with 3 independent variables (this is only 1 model with 3 independent variables).

3) the P-values within the multiple regression model for each of the independent variables (from the one multiple regression model).

How do you explain what you see from these three results?

Group of answer choices

The P-value for the "Full" multiple regression model is smaller than the common significance level threshold of .05. This indicates there is sufficient evidence of a significant relationship between (at least one of) the independent variables (TV, Newspaper, Radio ads) and the dependent variable (Sales). However, in the results of the multiple regression model the individual p-values for each of the three independent variables are NOT significant (they are all much larger than .05). This contradicts what the individual simple linear regression models showed for some of the independent variables. Therefore, there must be something going on between the independent variables in the multiple regression model because the P-values for the independent variables in the multiple regression model are misleading.

The P-value for the "Full" multiple regression model is smaller than the common significance level threshold of .05. This indicates there is sufficient evidence of a significant relationship between (at least one of) the independent variables (TV, Newspaper, Radio ads) and the dependent variable (Sales). However, in the results of the multiple regression model the individual p-values for each of the three independent variables are NOT significant (they are all much larger than .05). This is not misleading because none of the independent variables alone is a significant predictor of sales.

The P-value for the "Full" multiple regression model is larger than the common significance level threshold of .05. This indicates there is not sufficient evidence of a significant relationship between (at least one of) the independent variables (TV, Newspaper, Radio ads) and the dependent variable (Sales). The results of the multiple regression model shows individual p-values for each of the three independent variables that are NOT significant as well (they are all much larger than .05) also indicating there is no relationship between the independent variables and sales.

The P-value for the "Full" multiple regression model is smaller than the common significance level threshold of .05. This indicates there is sufficient evidence of a significant relationship between (at least one of) the independent variables (TV, Newspaper, Radio ads) and the dependent variable (Sales). The results of the multiple regression model also shows sufficient evidence of a significant relationship between the independent variables and sales.

none of these are correct