Question

In: Statistics and Probability

Do not use this data if your class time is not 9:30AM Monday and Wednesday Location...

Do not use this data if your class time is not 9:30AM Monday and Wednesday
Location Sales (in thousands) Advertising(in thousands) Adv^2 Years in Business Adv * Years Dwest Dsouth
South 340 8 4
North 651 42 6
West 459 35 2
West 1400 64 16
North 943 40 11
South 425 24 4
West 589 10 8
South 492 17 7
North 490 15 8
South 920 33 15
North 1040 45 14
West 403 30 3
South 594 27 8
South 599 30 10
West 293 12 4
North 855 40 12
South 343 19 6
West 891 45 12
North 395 20 3
West 862 40 12
South 350 12 5
West 871 48 11
North 405 22 2
South 193 8 3
South 185 10 2
***To use the Data Analysis feature with Excel 2016, click the File tab on the top left; Excel Options; Add-ins; Manage Add-ins; and the Analysis Toolpak.
***With a MAC, only the last version of Excel has the Data Analysis button. Use the 'TOOLS' menu at the top, and then select Add-ins.
Assignment: We are trying to explain the variation in Sales from storefront to storefront using Advertising budgets, Years in Business, and store location. Adv^2 is a quadratic term for Advertising. Adv*Years is an interaction term. For store location, North will be the omitted category or null state, and DSouth and DWest are Dummy Variables for stores located in the South or West.
Complete the data for Adv^2, Adv*Years, South, and West. Regress Sales on Advertising, Adv^2, Years in Business, Adv*Years, South, and West. Place the Regression Output on it's own worksheet.
Type your name on the Regression Output. This signifies that you completed the assignment. The penalty for submitted a work not your own or allowing another to copy your work is a 0 for the course.
1. Type on the Regression output page which regressors are significant at the 5% level of significance and why.
2. Predict Sales for a store in the West with $30,000 in advertising expenditures and 5 years in business.

3. Rank the regions based on sales from highest to lowest, holding adv and years in business constant.

HOW DO I PUT THIS IN EXCEL AND MAKE A REGRESSION? i tried usuing the data analysis button and it wont pull up my regression table and id ont know if its because i dont know what the Y and X are or if it is because there are blanks?

Solutions

Expert Solution

data

fill all the columns as per requirement

adv^2 = adv*adv

adv*years ,

Dwest = if ( location = "west" , 1,0) in excel

Location Sales (in thousands) Advertising(in thousands) Adv^2 Years in Business Adv * Years Dwest Dsouth
South 340 8 64 4 32 0 1
North 651 42 1764 6 252 0 0
West 459 35 1225 2 70 1 0
West 1400 64 4096 16 1024 1 0
North 943 40 1600 11 440 0 0
South 425 24 576 4 96 0 1
West 589 10 100 8 80 1 0
South 492 17 289 7 119 0 1
North 490 15 225 8 120 0 0
South 920 33 1089 15 495 0 1
North 1040 45 2025 14 630 0 0
West 403 30 900 3 90 1 0
South 594 27 729 8 216 0 1
South 599 30 900 10 300 0 1
West 293 12 144 4 48 1 0
North 855 40 1600 12 480 0 0
South 343 19 361 6 114 0 1
West 891 45 2025 12 540 1 0
North 395 20 400 3 60 0 0
West 862 40 1600 12 480 1 0
South 350 12 144 5 60 0 1
West 871 48 2304 11 528 1 0
North 405 22 484 2 44 0 0
South 193 8 64 3 24 0 1
South 185 10 100 2 20 0 1

you can copy paste in excel directly below formulas

Location Sales (in thousands) Advertising(in thousands) Adv^2 Years in Business Adv * Years Dwest Dsouth
South 340 8 =C2*C2 4 =E2*C2 =IF(A2="West",1,0) =IF(A2="South", 1,0)
North 651 42 =C3*C3 6 =E3*C3 =IF(A3="West",1,0) =IF(A3="South", 1,0)
West 459 35 =C4*C4 2 =E4*C4 =IF(A4="West",1,0) =IF(A4="South", 1,0)
West 1400 64 =C5*C5 16 =E5*C5 =IF(A5="West",1,0) =IF(A5="South", 1,0)
North 943 40 =C6*C6 11 =E6*C6 =IF(A6="West",1,0) =IF(A6="South", 1,0)
South 425 24 =C7*C7 4 =E7*C7 =IF(A7="West",1,0) =IF(A7="South", 1,0)
West 589 10 =C8*C8 8 =E8*C8 =IF(A8="West",1,0) =IF(A8="South", 1,0)
South 492 17 =C9*C9 7 =E9*C9 =IF(A9="West",1,0) =IF(A9="South", 1,0)
North 490 15 =C10*C10 8 =E10*C10 =IF(A10="West",1,0) =IF(A10="South", 1,0)
South 920 33 =C11*C11 15 =E11*C11 =IF(A11="West",1,0) =IF(A11="South", 1,0)
North 1040 45 =C12*C12 14 =E12*C12 =IF(A12="West",1,0) =IF(A12="South", 1,0)
West 403 30 =C13*C13 3 =E13*C13 =IF(A13="West",1,0) =IF(A13="South", 1,0)
South 594 27 =C14*C14 8 =E14*C14 =IF(A14="West",1,0) =IF(A14="South", 1,0)
South 599 30 =C15*C15 10 =E15*C15 =IF(A15="West",1,0) =IF(A15="South", 1,0)
West 293 12 =C16*C16 4 =E16*C16 =IF(A16="West",1,0) =IF(A16="South", 1,0)
North 855 40 =C17*C17 12 =E17*C17 =IF(A17="West",1,0) =IF(A17="South", 1,0)
South 343 19 =C18*C18 6 =E18*C18 =IF(A18="West",1,0) =IF(A18="South", 1,0)
West 891 45 =C19*C19 12 =E19*C19 =IF(A19="West",1,0) =IF(A19="South", 1,0)
North 395 20 =C20*C20 3 =E20*C20 =IF(A20="West",1,0) =IF(A20="South", 1,0)
West 862 40 =C21*C21 12 =E21*C21 =IF(A21="West",1,0) =IF(A21="South", 1,0)
South 350 12 =C22*C22 5 =E22*C22 =IF(A22="West",1,0) =IF(A22="South", 1,0)
West 871 48 =C23*C23 11 =E23*C23 =IF(A23="West",1,0) =IF(A23="South", 1,0)
North 405 22 =C24*C24 2 =E24*C24 =IF(A24="West",1,0) =IF(A24="South", 1,0)
South 193 8 =C25*C25 3 =E25*C25 =IF(A25="West",1,0) =IF(A25="South", 1,0)
South 185 10 =C26*C26 2 =E26*C26 =IF(A26="West",1,0) =IF(A26="South", 1,0)

run regression

PLEASE RATE


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