ANSWER THE FOLLOWING QUESTION. Question-1: The objective of a study is to produce a multiple regression model to predict sales of cottonfabric. The explanatory variables arex,Whole sale price indexQuantity of Imported FabricX,Quantity of Exported FabricTimePart of a computer output from the estimated regression based on 28 observations is shown below:PredictorConstantCoeff StdDev22958876X,-2425X,-62.5X,0.50.2X,6370Analysis of VarianceSourceSSRegressionErrorTotal21080142622506 a)Suppose we drop the variable X4 from the model. The reduced regression model has, X1,X2, and X3 as explanatory variables. The reduced model has R2 = 0.9. Test if the reducedregression model is significant or not at significance level 0.05.b) Suppose you believe that the quantity of cotton fabric sold may also be impacted by howcold the weather is. Furthermore, suppose you have classified the weather in threecategories, cold, normal, warm. Designa regression model that allows for the new variablesand show how you test your hypothesis.

Name: ANSWER THE FOLLOWING QUESTION. Question-1: The objective of a study is
Uploaded: 2024-03-20T07:07:37.000Z
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Description: ANSWER THE FOLLOWING QUESTION. Question-1: The objective of a study is to produce a multiple regression model to predict sales of cottonfabric. The explanatory variables arex,Whole sale price indexQuantity of Imported FabricX,Quantity of Exported Fab