Essentials Of Statistics For Business & Economics
9th Edition
ISBN: 9780357045435
Author: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams, Jeffrey D. Camm, James J. Cochran
Publisher: South-Western College Pub
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Chapter 15.5, Problem 22E
Testing Significance in Shoe Sales Prediction. In exercise 4, the following estimated regression equation relating sales to inventory investment and advertising expenditures was given.
The data used to develop the model came from a survey of 10 stores; for these data SST = 16,000 and SSR = 12,000.
- a. Compute SSE, MSE, and MSR.
- b. Use an F test and a .05 level of significance to determine whether there is a relationship among the variables.
4. Shoe Sales. A shoe store developed the following estimated regression equation relating sales to inventory investment and advertising expenditures.
where
- a. Predict the sales resulting from a $15,000 investment in inventory and an advertising budget of $10,000.
- b. Interpret b1 and b2 in this estimated regression equation.
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Chapter 15 Solutions
Essentials Of Statistics For Business & Economics
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