A company advertises its product in different media. They have established a regression model to make estimate of expectedsales based on advertisement expenditure (rupees), which is given below.Intercept25.938889TV0.004577Radio0.018853Newspaper -0.000104What is the expected sales if it decides to spend Rs 100,000/- each for the three media?What would be the increment if it increases TV ads by another 10%?

The regression method is the most usable concept for prediction. The multiple regression model can…

Answered: A company advertises its product in…

Linear Algebra: A Modern Introduction

4th Edition

ISBN:9781285463247

Author:David Poole

Publisher:David Poole

Chapter7: Distance And Approximation

Section7.3: Least Squares Approximation

Problem 31EQ

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The fish in my pond have mean lenth 14 inches with a standard deviation of 2 inches and mean weight 4 pounds with a standard deviation of .8 pounds. The correlation coefficient of length and weight is .4. If the length of a particular randomly selected fish is reported to be 15 inches, then what should we predict for the weight of that fish using simple linear regression?
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If the error term in a linear regression model is normally distributed, then the distribution of the OLS estimator, conditional on explanatory variables, is also normal. True or False, why?
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