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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.

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