The results of a multiple regression analysis, using Minitab, follow. Analysis of Variance Source Regression Residual Error DF SS MS 3 3050 1016.67 26 2200 84.62 Total 29 5250 Predictor Coefficient SE Coefficient Constant 14.00 7.00 2.00 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 reglonal population of 0.4 (400,000), and an advertising expense of 30 ($30,000)? b. Compute the R? value. c. Compute the multiple standard error of estimate. d. Conduct a global test of hypothesis to determine whether any of the regression coefficients are not equal to zero. Use the .05 level of significance. e. Conduct tests of hypothesis to determine which of the Independent variables have significant regression coefficients. Which varlables would you consider eliminating? Use the .05 significance level.
Correlation
Correlation defines a relationship between two independent variables. It tells the degree to which variables move in relation to each other. When two sets of data are related to each other, there is a correlation between them.
Linear Correlation
A correlation is used to determine the relationships between numerical and categorical variables. In other words, it is an indicator of how things are connected to one another. The correlation analysis is the study of how variables are related.
Regression Analysis
Regression analysis is a statistical method in which it estimates the relationship between a dependent variable and one or more independent variable. In simple terms dependent variable is called as outcome variable and independent variable is called as predictors. Regression analysis is one of the methods to find the trends in data. The independent variable used in Regression analysis is named Predictor variable. It offers data of an associated dependent variable regarding a particular outcome.
![The results of a multiple regression analysis, using Minitab, follow.
Analysis of Variance
Source
Regression
DF
SS
MS
3050
1016.67
Residual Error
Total
26
2200
84.62
29
5250
Predictor
Coefficient SE Coefficient
Constant
14.00
7.00
2.00
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)?
b. Compute the R? value.
c. Compute the multiple standard error of estimate.
d. Conduct a global test of hypothesis to determine whether any of the regression
coefficients are not equal to zero. Use the .05 level of significance.
e. Conduct tests of hypothesis to determine which of the independent variables have
significant regression coefficients. Which variables would you consider eliminating?
Use the .05 significance level.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1568584d-52a9-45f8-8c53-a293b17582da%2F1347bd26-5863-4564-b1e4-505d77392ce0%2Fp7w613a_processed.jpeg&w=3840&q=75)
![17. 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, consist-
ing 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)
x, = number of competitors in the region
X2 = population of the region (in millions)
X3 = advertising expense (in $ thousands)
%3D](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1568584d-52a9-45f8-8c53-a293b17582da%2F1347bd26-5863-4564-b1e4-505d77392ce0%2Fcns9o1_processed.jpeg&w=3840&q=75)
![](/static/compass_v2/shared-icons/check-mark.png)
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
![MATLAB: An Introduction with Applications](https://www.bartleby.com/isbn_cover_images/9781119256830/9781119256830_smallCoverImage.gif)
![Probability and Statistics for Engineering and th…](https://www.bartleby.com/isbn_cover_images/9781305251809/9781305251809_smallCoverImage.gif)
![Statistics for The Behavioral Sciences (MindTap C…](https://www.bartleby.com/isbn_cover_images/9781305504912/9781305504912_smallCoverImage.gif)
![MATLAB: An Introduction with Applications](https://www.bartleby.com/isbn_cover_images/9781119256830/9781119256830_smallCoverImage.gif)
![Probability and Statistics for Engineering and th…](https://www.bartleby.com/isbn_cover_images/9781305251809/9781305251809_smallCoverImage.gif)
![Statistics for The Behavioral Sciences (MindTap C…](https://www.bartleby.com/isbn_cover_images/9781305504912/9781305504912_smallCoverImage.gif)
![Elementary Statistics: Picturing the World (7th E…](https://www.bartleby.com/isbn_cover_images/9780134683416/9780134683416_smallCoverImage.gif)
![The Basic Practice of Statistics](https://www.bartleby.com/isbn_cover_images/9781319042578/9781319042578_smallCoverImage.gif)
![Introduction to the Practice of Statistics](https://www.bartleby.com/isbn_cover_images/9781319013387/9781319013387_smallCoverImage.gif)