Question

In: Statistics and Probability

Sales Price Adver staff 18.75988037 28.20871609 21.97500534 65.07690664 45.33753471 32.59666738 41.51570177 33.1777398 36.39500107 26.73039949 6.920529801 44.29288614...

Sales Price Adver staff
18.75988037 28.20871609 21.97500534 65.07690664
45.33753471 32.59666738 41.51570177 33.1777398
36.39500107 26.73039949 6.920529801 44.29288614
48.77269814 59.29822687 59.55671865 37.07861568
53.23328349 52.74620808 52.85088656 13.92544328
59.60798975 31.61610767 66.05960265 13.39564196
68.16812647 32.18436232 54.1134373 14.47874386
15.66011536 28.08694723 9.449903867 54.78209784
59.45631275 31.64174322 16.83294168 39.88357189
38.23435163 5.534073916 37.02307199 16.0339671
62.65221107 24.57274087 60.28519547 33.38068789
24.42747276 42.16727195 45.67506943 21.88741722
47.28156377 51.27002777 6.993163854 67.19183935
18.17667165 64.4103824 11.40888699 38.51634266
12.27195044 72.56248665 31.62038026 5.892971587
30.0715659 37.48664815 47.56782739 48.82183294
20.13779107 7.279427473 58.56547746 53.58790857
5.90151677 59.76821192 51.82973724 61.44520402
29.90279855 23.4725486 8.339030122 14.78423414
13.97244179 10.83635975 61.94936979 23.55586413
18.78124332 33.35718863 52.69280068 69.06109806
21.14825892 13.34864345 60.25101474 57.36060671
42.61162145 72.03482162 38.46079897 49.44776757
27.65541551 28.5953856 66.86925871 40.38132878
25.03418073 19.94979705 40.19974364 24.58769494
70.65477462 55.85879086 31.74214911 69.4840846
45.42085025 69.11664174 11.54133732 14.63682974
26.52317881 25.48280282 15.35676138 58.64238411
5.551164281 43.04956206 5.320444349 30.89831233
51.92800684 15.71779534 28.23435163 10.47105319
5.0491348 20.50096133 52.43430891 19.2362743
53.61781671 23.30378124 19.17645802 51.49433882
25.55757317 22.91070284 49.46272164 57.2153386
6.984618671 57.81136509 12.25699637 21.16321299
43.66695151 25.61738945 5.034180731 35
73.3721427 69.71480453 42.56889554 14.64537492
  1. Check the significance or insignificance of the independent variables? and state whether the regression model is overall fit or not?  
  2. Find the predicted value of sales when staff= 20, price= 130 and advertising = 10. Report total variation explained and unexplained variations in the equation.

Solutions

Expert Solution

i.

SUMMARY OUTPUT
Regression Statistics
Multiple R 0.206465386
R Square 0.042627956
Adjusted R Square -0.04712567
Standard Error 20.39622246
Observations 36
ANOVA
df SS MS F Significance F
Regression 3 592.7386161 197.5795 0.474944 0.701918175
Residual 32 13312.18849 416.0059
Total 35 13904.92711
Coefficients Standard Error t Stat P-value Lower 95% Upper 95%
Intercept 31.93714485 12.85257415 2.484883 0.018378 5.757308029 58.11698168
Price 0.130052 0.181015892 0.718456 0.477689 -0.238665305 0.498769305
Adver 0.088609947 0.170701705 0.519092 0.607268 -0.259098049 0.436317942
staff -0.13803643 0.178378064 -0.77384 0.444704 -0.501380657 0.225307795

Since P-values of all independent variables >0.05, all independent variables are insignificant. From ANOVA table, we see that P-value of F test>0.05, overall regression model is insignificant.

ii.

orchestra answered 1 year ago
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