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 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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Posted on Oct 07, 2024

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

	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.