The following regression model was estimated. Q is the number of meals served, P is the average price per meal (customer ticket amount, in dollars), Rxis the average price charged by competitors (in dollars), Ad is the local advertising budget for each outlet (in dollars), and I is the average income per household in each outlet's immediate service area. Least squares estimation of the regression equation on the basis of the 25 data observations resulted in the estimated regression coefficients and other statistics given in Table below. Variable Coefficient Standard Error of Coefficient Intercept 128832.240 69974.818 Price (P) Competitor Price (Px) | Advertising (Ad) Income () -19875.954 4100.856 15467.936 459.280 0.261 0.094 8.780 1.017 Coefficient of determination R =83.3% (a) Interpret the coefficients of independent variables. (b) Test the significance of independent variables at 5% level of Significance. (c) Interpret R? with the help of adjusted R2. (d) Test for the overall significance of the regression. (e) Explain the nature, causes, consequences and remedial measures of any one data disease (Auto Hetro Multi) if present in the given model.

The following regression model was estimated. Q is the number of meals served, P is the average price per meal (customer ticket amount, in dollars), Rxis the average price charged by competitors (in dollars), Ad is the local advertising budget for each outlet (in dollars), and I is the average income per household in each outlet's immediate service area. Least squares estimation of the regression equation on the basis of the 25 data observations resulted in the estimated regression coefficients and other statistics given in Table below. Variable Coefficient Standard Error of Coefficient Intercept 128832.240 69974.818 Price (P) Competitor Price (Px) | Advertising (Ad) Income () -19875.954 4100.856 15467.936 459.280 0.261 0.094 8.780 1.017 Coefficient of determination R =83.3% (a) Interpret the coefficients of independent variables. (b) Test the significance of independent variables at 5% level of Significance. (c) Interpret R? with the help of adjusted R2. (d) Test for the overall significance of the regression. (e) Explain the nature, causes, consequences and remedial measures of any one data disease (Auto Hetro Multi) if present in the given model.

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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