Question
Your company believes that the monthly sales (in millions of US dollars) of one of its products are related to the amount spent on advertising
Your company believes that the monthly sales (in millions of US dollars) of one of its products are related to the amount spent on advertising (also in millions of US dollars) during the previous month. Below are the results of a regression analysis using sales as a function of the amount spent on advertising during the previous month. Sales is your dependent variable while advertising spent during the previous month is your independent variable.
Multiple R | X2 | |||||
R Square | X1 | |||||
Standard Error | X3 | |||||
Observations | 7 | |||||
ANOVA | ||||||
| df | SS | MS | F | Significance F | |
Regression | X5 | 0.183802 | X7 | X9 | 0.027615 | |
Residual | X6 | 0.097169 | X8 | |||
Total | X4 | 0.280971 |
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| Coefficients | Standard Error | t Stat | P-value | Lower 95% | Upper 95% |
Intercept | 0.168657 | 0.454091 | 0.371416 | 0.725546 | -0.998621 | 1.335934 |
Advertising | 0.019719 | 0.006412 | X10 | 0.027615 | 0.003237 | 0.036201 |
Several of the items in the regression output have been intentionally omitted. What is the value of X1? Make sure to use at least 4 decimal places in all of your calculations.
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