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a. What are the estimated sales for the Bryne store, which has four competitors, a regional population of 0.4 (400,000), and an advertising expense of 30 ($30,000)? Estimated sales

a. What are the estimated sales for the Bryne store, which has four competitors, a regional population of 0.4 (400,000), and an advertising expense of 30 ($30,000)? Estimated sales

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.6: Summarizing Categorical Data
Problem 10CYU
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The district manager of Jasons, a large discount electronics chain, is investigating why certain stores in her region are performing better than others. She believes that three factors are related to total sales: the number of competitors in the region, the population in the surrounding area, and the amount spent on advertising. From her district, consisting of several hundred stores, she selects a random sample of 30 stores. For each store, she gathered the following information. y=total sales last year (in $ thousands) X1 = number of competitors in the region X2 = population of the region (in millions) X3 = advertising expense (in $ thousands) The results of a multiple regression analysis follow. Analysis of variance Source Regression Residual Error DF ss MS 3,050 1,016.67 2,200 5,250 26 84.62 Total 29 Predictor Coefficient 14.00 SE Coefficient t. 2.00 Constant 7.00 X1 -1.00 0.70 -1.43 x2 30.00 5.20 5.77 X3 0.20 0.08 2.50 a. What are the estimated sales for the Bryne store, which has four competitors, a regional population of 0.4 (400,000), and an advertising expense of 30 ($30,000)? Estimated sales < Prev 9 of 10 Next >
Transcribed Image Text:The district manager of Jasons, a large discount electronics chain, is investigating why certain stores in her region are performing better than others. She believes that three factors are related to total sales: the number of competitors in the region, the population in the surrounding area, and the amount spent on advertising. From her district, consisting of several hundred stores, she selects a random sample of 30 stores. For each store, she gathered the following information. y=total sales last year (in $ thousands) X1 = number of competitors in the region X2 = population of the region (in millions) X3 = advertising expense (in $ thousands) The results of a multiple regression analysis follow. Analysis of variance Source Regression Residual Error DF ss MS 3,050 1,016.67 2,200 5,250 26 84.62 Total 29 Predictor Coefficient 14.00 SE Coefficient t. 2.00 Constant 7.00 X1 -1.00 0.70 -1.43 x2 30.00 5.20 5.77 X3 0.20 0.08 2.50 a. What are the estimated sales for the Bryne store, which has four competitors, a regional population of 0.4 (400,000), and an advertising expense of 30 ($30,000)? Estimated sales < Prev 9 of 10 Next >
b. Compute the R²-value. (Round your answer to 3 decimal places.) Coefficient of determination, R c. Compute the multiple standard error of estimate. (Round your answer to 3 decimal places.) Multiple standard error of estimate d-1. State the decision rule. Ho: B, = B, = Ba = 0; H: Not all B's are 0. Use the 0.05 level of significance. (Round your answer to 2 decimal places.) Ho is rejected if F> < Prev 9 of 10 Next >
Transcribed Image Text:b. Compute the R²-value. (Round your answer to 3 decimal places.) Coefficient of determination, R c. Compute the multiple standard error of estimate. (Round your answer to 3 decimal places.) Multiple standard error of estimate d-1. State the decision rule. Ho: B, = B, = Ba = 0; H: Not all B's are 0. Use the 0.05 level of significance. (Round your answer to 2 decimal places.) Ho is rejected if F> < Prev 9 of 10 Next >
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