Answered step by step
Verified Expert Solution
Question
1 Approved Answer
You may need to use the appropriate technology to answer this question. The following estimated regression equation relating sales to inventory investment and advertising
You may need to use the appropriate technology to answer this question. The following estimated regression equation relating sales to inventory investment and advertising expenditures was given. =26 +15x+8x2 The data used to develop the model came from a survey of 10 stores; for these data, SST = 18,000 and SSR = 14,000. (a) Compute SSE, MSE, and MSR. (Round your answers to two decimal places.) SSE = MSE = MSR = (b) Use an F test and a 0.05 level of significance to determine whether there is a relationship among the variables. State the null and alternative hypotheses. # Ho: B = 0 and B = 0 # Ha B = 0 and 20 Mo B-B-0 H: One or more of the parameters is not equal to zero. # Ho B0 and 20 1 H: One or more of the parameters is equal to zero. > Hoj By By S Hj Bs B < H HBB Find the value of the test statistic. (Round your answer to two decimal places.) F = Find the p-value. (Round your answer to three decimal places.) p-value= State your conclusion. Do not reject Ho. There is sufficient evidence to conclude that there is a significant relationship among the variables. Reject Ho. There is insufficient evidence to conclude that there is a significant relationship among the variables. Reject H. There is sufficient evidence to conclude that there is a significant relationship among the variables. Do not reject Ho. There is insufficient evidence to conclude that there is a significant relationship among the variables.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started