Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Use a regression model and 2014 data to estimate 2015-1 sales. Derive 95% and 99% confidence intervals for the 2015-1 estimate. A B C D

  1. Use a regression model and 2014 data to estimate 2015-1 sales.
  2. Derive 95% and 99% confidence intervals for the 2015-1 estimate.

image text in transcribedimage text in transcribed
A B C D E F G H Table 3. Table 1 organized to run a regression 2 SUMMARY OUTPUT 3 Regression Statistics 5 Multiple R 0.93329645 6 R Square 0.871042264 Adjusted R Square 0.8521704 Standard Error 74342.1531 9 Observations 48 10 11 ANOVA 12 of 55 MS F Significance F 13 Regression 6 1.53054E+12 2.550918+11 46.15560361 1.08099E-16 14 Residual 41 2.26597E+11 5526755728 15 Total 47 1.75714E+12 16 17 Coefficients Standard Error Stat P-value Lower 95%% Upper 95% Lower 95.0% Upper 95.0% 18 Intercept 582751.041 298463.9601 1.952500532 0.057729382 20009.15461 1185511.237 20009.15461 1185511.237 19 X Variable 1 -122606.8172 16422.3756 -7.465839306 3.65369E-09 -155772.4776 -89441.15687 -155772.4776 -89441.15687 20 X Variable 2 5.837648021 1.650493714 3.536910181 0.001021283 2.504408344 9.170887699 2.504408344 9.170887699 21 X Variable 3 29866.58941 13449.21601 2.22069371 0.0319566 2705.346646 57027.83217 2705.346646 57027.83217 22 X Variable 4 2.042729228 3.762305002 0.542946206 0.590106512 -5.555399867 9.640858324 -5.555399867 9.640858324 23 X Variable 5 0.030258034 0.0039448 7.670359705 1.89567E-09 0.022291349 0.038224718 0.022291349 0.038224718 24 X Variable 6 3097.044226 4993.166813 0.620256511 0.538521425 -6986.860725 13180.94918 -6986.860725 13180.94918 25 26 27 28 Regression Equation 29 30 Unit Sales = 582751 - 122607 Price+ 5.84 AdverEXP +29867 Comp Price + 2.04 Income 31 +0.03026 Pop + 3097 T1 Table 1. Adam's Pizza Regional Market demand 2013-1-2013-4 2 Unit Sales Price AdverEXP Comp Price Income Pop T 3 Dallas 4 2013-1 212667.4 7.59 17409.7 8.14 53263.1 5561441.6 5 2013-2 187045.1 8.569 22900.9 5.698 53941.8 5600497.1 2 6 2013-3 272479.9 6.831 15468.2 6.215 54629.3 5639826.5 7 2013-4 201584.9 8.019 18670.3 7.26 55325.6 5679432 4 8 2014-1 310329.8 7.557 20696.5 7.491 56031.8 5719315.8 5 9 2014-2 223735.6 7.106 15593.6 5.742 56745.7 5759480.1 6 10 2014-3 184191.7 7.887 18733 6.149 57469.5 5799926 7 11 2014-4 397844.7 6.292 15901.6 6.831 58202.1 5840656.8 8

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

Technical Change, Relative Prices, And Environmental Resource Evaluation

Authors: V Kerry Smith

1st Edition

1317358570, 9781317358572

More Books

Students also viewed these Economics questions

Question

2. Be sure to make eye contact with the students.

Answered: 1 week ago

Question

precal homework work needed pls

Answered: 1 week ago

Question

What does this look like?

Answered: 1 week ago