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We estimated a marketing mix model to predict Quantity (Sales) and observed the following results: Estimate Std. Error t value Pr(>|t|) (Intercept) 4.98989 1.72015 2.901

We estimated a marketing mix model to predict Quantity (Sales) and observed the following results:

Estimate

Std. Error

t value

Pr(>|t|)

(Intercept)

4.98989

1.72015

2.901

0.00402 **

lln_quantity (Lag Quantity)

0.47912

0.03969

12.071

< 2e-16 ***

ln_price (Log Price)

-0.63935

0.25147

-2.543

0.01155 *

ln_digital (Log Digital Spend)

0.11872

0.04601

2.58

0.01038 *

ln_print (Log Print Spend)

0.08621

0.02151

4.008

7.89e-05 ***

ln_tv (Log TV Spend)

-0.01861

0.03833

-0.486

0.62761

factor(weekdays)Monday

-0.0588

0.08046

-0.731

0.46553

factor(weekdays)Saturday

0.07294

0.07891

0.924

0.3561

factor(weekdays)Sunday

-0.08334

0.07877

-1.058

0.29101

factor(weekdays)Thursday

-0.13113

0.07836

-1.673

0.09539 .

factor(weekdays)Tuesday

-0.04881

0.0768

-0.636

0.52557

factor(weekdays)Wednesday

-0.09761

0.08087

-1.207

0.22848

---

Signif. codes: '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1

Based on this results table, examine the following statement: We are likely to sell the same quantity irrespective of the day of the week (with significance criteria set at 10% level and not including Friday)

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