company yearly revenue. The following is the descriptive statistics and regression output from Excel. Revenue Реople Income Competitors Price Mean Standard Error Median 5970.26 5.68 0.142857 0.051030203 5.75 343985.88 2.8 41522.08 582.1378385 41339.5 #N/A 5307.89863 139.0845281 8032 345186.5 3 Mode 3 #NIA 37532.51115 1408689393 5917 Standard Deviation Sample Variance 983.47813 4118.334718 16944211.51 2078148 1.010153 0.380838027 987225.2984 1.020408 0.130204082 Sum 17198284 298513 140 284 Count 50 50 50 50 50 SUMMARY OUTPUT Regression Statistics Multiple R R Square Adjusted R Square Standard Error 0.77 A B 25139.79 50.00 Observations ANOVA Significance F. 3.0831E-08 of MS F Regression C 40585376295 28440403984 Residual G Total E 69025780279 Coefficients Standard Error -68363.1524 t Stat -0.8708 0.3886 P-value 1524 76524.7251 Intercept Реople Income Competitors Price | 0.0801 J 0.0000 K 0.0857 L 0.1251 8.4394 3.7051 0.9358 3818.5426 10219.0283 7.2723 -6709.4320 2tivate Winc 15968.7848
company yearly revenue. The following is the descriptive statistics and regression output from Excel. Revenue Реople Income Competitors Price Mean Standard Error Median 5970.26 5.68 0.142857 0.051030203 5.75 343985.88 2.8 41522.08 582.1378385 41339.5 #N/A 5307.89863 139.0845281 8032 345186.5 3 Mode 3 #NIA 37532.51115 1408689393 5917 Standard Deviation Sample Variance 983.47813 4118.334718 16944211.51 2078148 1.010153 0.380838027 987225.2984 1.020408 0.130204082 Sum 17198284 298513 140 284 Count 50 50 50 50 50 SUMMARY OUTPUT Regression Statistics Multiple R R Square Adjusted R Square Standard Error 0.77 A B 25139.79 50.00 Observations ANOVA Significance F. 3.0831E-08 of MS F Regression C 40585376295 28440403984 Residual G Total E 69025780279 Coefficients Standard Error -68363.1524 t Stat -0.8708 0.3886 P-value 1524 76524.7251 Intercept Реople Income Competitors Price | 0.0801 J 0.0000 K 0.0857 L 0.1251 8.4394 3.7051 0.9358 3818.5426 10219.0283 7.2723 -6709.4320 2tivate Winc 15968.7848
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter4: Equations Of Linear Functions
Section: Chapter Questions
Problem 4SGR
Related questions
Question
This is simple question from hypothesis testing
Transcribed Image Text:You are required to;
a. Complete the missing entries from A to L in this output
ANSWER:
b. Derive the regression model
ANSWER:
c. What does the standard error of estimate tell you about the model?
ANSWER:
d. Assess the independent variables significance at 5% level (develop hypothesis if necessary in
the analysis)?
ANSWER:
Transcribed Image Text:Yummy Lunch Restaurant needs to decide the most profitable location for their business expansion.
Marketing manager plans to use a multiple regression model to achieve their target. His model
considers yearly revenue as the dependent variable. He found that number of people within 2KM
(People), Mean household income(income), no of competitors and price as explanatory variables of
company yearly revenue.
The following is the descriptive statistics and regression output from Excel.
Revenue
People
Income
Competitors
Price
343985.68
5307.89863
5970.28
139.0845281
41522.08
2.8
0.142857
Mean
5.88
Standard Error
582.1378385
41339.5
0.051030203
Median
345186.5
8032
3
5.75
#N/A
5917
Mode
Standard Deviation
Sample Variance
#N/A
3
983.47613
967225.2984
37532.51115
4118.334718
1.010153
0.380838027
0.130204082
284
1408689393
16944211.51
1.020408
Sum
17198284
298513
2076148
140
Count
50
50
50
50
50
SUMMARY
OUTPUT
Regression Statistics
0.77
Multiple R
R Square
Adjusted R Square
Standard Error
A
B
25139.79
Observations
50.00
ANOVA
Significance
of
MS
F
40585378295
Regression
Residual
Total
H
3.0831E-08
28440403984
G
E
69025780279
t Stat
-0.8706
P-value
0.3886
0.0891
0.0000
0.0857
0.1251
Coefficients
Standard Error
78524.7251
3.7051
0.9358
3818.5426
-88363.1524
Intercept
People
8.4394
7.2723
-6709.4320
Income
Competitors
Price
K
12ivate Wind
15988.7048
10219.0263
L
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