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You may need to use the appropriate technology to answer this question. The following is part of the results of a regression analysis involving sales (y in millions of dollars), advertising expenditures (x, in thousands of dollars), and number of salespeople (x₂) for a corporation. The regression was performed on a sample of 10 observations. ý= Constant x1 Ho: x2 H₂: Coefficients (a) Write the regression equation. -11.320 0.788 0.151 P₁!=0 Standard Error -11.320 +0.788x₁ +0.151x2 20.452 (b) Interpret the coefficients of the estimated regression equation found in part (a). (Give your answers in dollars.) As advertising increases by 1 unit ($1,000), sales are expected to increase by $788 to increase by $ 151 X when advertising is held constant. 0.302 (c) At a = 0.05, test for the significance of the coefficient of advertising. State the null and alternative hypotheses. (Enter != for as needed.) B₁=0 0.218 Find the value of the test statistic. (Round your answer to two decimal places.) 2.61 Find the p-value. (Round your answer to four decimal places.) p-value = 0349 State your conclusion. x when the number of salespeople is held constant. As the number of salespeople increases by 1, sales are expected 6:16 PM

You may need to use the appropriate technology to answer this question. The following is part of the results of a regression analysis involving sales (y in millions of dollars), advertising expenditures (x, in thousands of dollars), and number of salespeople (x₂) for a corporation. The regression was performed on a sample of 10 observations. ý= Constant x1 Ho: x2 H₂: Coefficients (a) Write the regression equation. -11.320 0.788 0.151 P₁!=0 Standard Error -11.320 +0.788x₁ +0.151x2 20.452 (b) Interpret the coefficients of the estimated regression equation found in part (a). (Give your answers in dollars.) As advertising increases by 1 unit ($1,000), sales are expected to increase by $788 to increase by $ 151 X when advertising is held constant. 0.302 (c) At a = 0.05, test for the significance of the coefficient of advertising. State the null and alternative hypotheses. (Enter != for as needed.) B₁=0 0.218 Find the value of the test statistic. (Round your answer to two decimal places.) 2.61 Find the p-value. (Round your answer to four decimal places.) p-value = 0349 State your conclusion. x when the number of salespeople is held constant. As the number of salespeople increases by 1, sales are expected 6:16 PM

MATLAB: An Introduction with Applications
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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You may need to use the appropriate technology to answer this question. The following is part of the results of a regression analysis involving sales (y in millions of dollars), advertising expenditures (x, in thousands of dollars), and number of salespeople (x₂) for a corporation. The regression was performed on a sample of 10 observations. Constant x₁ x2 Ho: H₂: Coefficients -11.320 (a) Write the regression equation. 0.788 0.151 ý = -11.320 +0.788x1 +0.151x2 B₁!= 0 Standard Error 20.452 0.302 (b) Interpret the coefficients of the estimated regression equation found in part (a). (Give your answers in dollars.) As advertising increases by 1 unit ($1,000), sales are expected to increase by $ 788 to increase by $.151 X when advertising is held constant. 0.218 (c) At a = 0.05, test for the significance of the coefficient of advertising. State the null and alternative hypotheses. (Enter != for # as needed.) B₁ = 0 J Find the value of the test statistic. (Round your answer to two decimal places.) 2.61 Find the p-value. (Round your answer to four decimal places.) p-value = .0349 State your conclusion. 0 X when the number of salespeople is held constant. As the number of salespeople increases by 1, sales are expected hp 4x O 6:16 PM 11/29/2022
Transcribed Image Text:You may need to use the appropriate technology to answer this question. The following is part of the results of a regression analysis involving sales (y in millions of dollars), advertising expenditures (x, in thousands of dollars), and number of salespeople (x₂) for a corporation. The regression was performed on a sample of 10 observations. Constant x₁ x2 Ho: H₂: Coefficients -11.320 (a) Write the regression equation. 0.788 0.151 ý = -11.320 +0.788x1 +0.151x2 B₁!= 0 Standard Error 20.452 0.302 (b) Interpret the coefficients of the estimated regression equation found in part (a). (Give your answers in dollars.) As advertising increases by 1 unit ($1,000), sales are expected to increase by $ 788 to increase by $.151 X when advertising is held constant. 0.218 (c) At a = 0.05, test for the significance of the coefficient of advertising. State the null and alternative hypotheses. (Enter != for # as needed.) B₁ = 0 J Find the value of the test statistic. (Round your answer to two decimal places.) 2.61 Find the p-value. (Round your answer to four decimal places.) p-value = .0349 State your conclusion. 0 X when the number of salespeople is held constant. As the number of salespeople increases by 1, sales are expected hp 4x O 6:16 PM 11/29/2022
(d) At a = 0.05, test for the significance of the coefficient of number of salespeople. State the null and alternative hypotheses. (Enter != for # as needed.) Ho: Ha JERT VERMELİndi B₂=0 B₂!= 0 Find the value of the test statistic. (Round your answer to two decimal places.) 2.61 X Find the p-value. (Round your answer to four decimal places.) p-value = .0349 X ✔ State your conclusion. O Reject Ho. There is sufficient evidence to conclude that B₂ is significant. Do not reject Ho. There is insufficient evidence to conclude that B₂ is significant. B2 $2 O Reject Ho. There is insufficient evidence to conclude that B₂ is significant. O Do not reject Ho. There is sufficient evidence to conclude that B₂ is significant. Need Help? (e) If the company uses $48,000 in advertisement and has 790 salespeople, what are the expected sales? Give your answer in dollars. $ Submit Answer Read It ✓ Viewing Saved Work Revert to Last Response hp □ W S D
Transcribed Image Text:(d) At a = 0.05, test for the significance of the coefficient of number of salespeople. State the null and alternative hypotheses. (Enter != for # as needed.) Ho: Ha JERT VERMELİndi B₂=0 B₂!= 0 Find the value of the test statistic. (Round your answer to two decimal places.) 2.61 X Find the p-value. (Round your answer to four decimal places.) p-value = .0349 X ✔ State your conclusion. O Reject Ho. There is sufficient evidence to conclude that B₂ is significant. Do not reject Ho. There is insufficient evidence to conclude that B₂ is significant. B2 $2 O Reject Ho. There is insufficient evidence to conclude that B₂ is significant. O Do not reject Ho. There is sufficient evidence to conclude that B₂ is significant. Need Help? (e) If the company uses $48,000 in advertisement and has 790 salespeople, what are the expected sales? Give your answer in dollars. $ Submit Answer Read It ✓ Viewing Saved Work Revert to Last Response hp □ W S D
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