In: Statistics and Probability
Coefficient Standard Error t value p value
Constant -11.340 20.412
X1 0.798 0.332 2.404 0.0345
X2 0.141 0.278 0.507 0.2305
a. Write the regression equation.
b. Interpret the coefficients of the estimated regression equation found in Part (a).
c. At a =0.05, test for the significance of the coefficient of advertising.
d. At a =0.05, test for the significance of the coefficient of number of salespeople.
e. If the company uses $50,000 in advertisement and has 800 salespersons, what are the expected sales? Give your answer in dollars.