Statistics for Business & Economics (with XLSTAT Education Edition Printed Access Card) (MindTap Course List)
13th Edition
ISBN: 9781305585317
Author: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams, Jeffrey D. Camm, James J. Cochran
Publisher: Cengage Learning
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Textbook Question
Chapter 15.2, Problem 4E
A shoe store developed the following estimated regression equation relating sales to inventory investment and advertising expenditures.
ŷ = 25 + 10x1 + 8x2
where
x1 = inventory investment ($1000s)
x2 = advertising expenditures ($1000s)
y = sales ($1000s)
- 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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A shoe store developed the following estimated regression equation relating sales to inventory investment and advertising expenditures.
ŷ = 35 + 10x₁ + 6x2
where
x1 = = inventory investment ($1000s)
x2 =
advertising expenditures ($1000s)
y = sales ($1000s)
a. Predict the sales resulting from a $15,000 investment in inventory and an advertising budget of $10,000.
$
b. Interpret b₁ and be in this estimated regression equation.
b₁: Sales can be expected to - Select your answer by $10 for every dollar increase in
constant.
b2: Sales can be expected to - Select your answer - by $6 for every dollar increase in
constant.
- Select your answer -
- Select your answer -
✓ when
✓ when
- Select your answer -
- Select your answer -
✓ is held
✓ is held
A shoe store developed the following estimated regression equation relating sales to inventory investment and advertising expenditures.
where
9-21+ 10x+7x2
X₁ inventory investment ($1,000s)
x2
advertising expenditures ($1,000s)
y=sales ($1,000s).
(a) Predict the sales (in dollars) resulting from a $14,000 investment in inventory and an advertising budget of $11,000.
$
(b) Interpret b, and by in this estimated regression equation.
Sales can be expected to increase by $
inventory investment is held constant.
for every dollar increase in inventory Investment when advertising expenditure is held constant. Sales can be expected to increase by $
ASK YOUR TEACHER
PRACTICE AN
for every dollar increase in advertising expenditure when
A shoe store developed the following estimated regression equation relating sales to inventory investment and advertising expenditures.
ŷ = 25 + 10x₁ + 8x2
where
X1 inventory investment ($1,000s)
x2
advertising expenditures ($1,000s)
y =
sales ($1,000s).
(a) Predict the sales (in dollars) 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.
1
2
Sales can be expected to increase by $
be expected to increase by $
for every dollar increase in inventory investment when advertising expenditure is held constant. Sales can
for every dollar increase in advertising expenditure when inventory investment is held constant.
Chapter 15 Solutions
Statistics for Business & Economics (with XLSTAT Education Edition Printed Access Card) (MindTap Course List)
Ch. 15.2 - The estimated regression equation for a model...Ch. 15.2 - Consider the following data for a dependent...Ch. 15.2 - In a regression analysis involving 30...Ch. 15.2 - A shoe store developed the following estimated...Ch. 15.2 - The owner of Showtime Movie Theaters, Inc., would...Ch. 15.2 - The National Football League (NFL) records a...Ch. 15.2 - PC Magazine provided ratings for several...Ch. 15.2 - The Cond Nast Traveler Gold List provides ratings...Ch. 15.2 - The Professional Golfers Association (PGA)...Ch. 15.2 - Prob. 10E
Ch. 15.3 - In exercise 1, the following estimated regression...Ch. 15.3 - Prob. 12ECh. 15.3 - In exercise 3, the following estimated regression...Ch. 15.3 - In exercise 4, the following estimated regression...Ch. 15.3 - In exercise 5, the owner of Showtime Movie...Ch. 15.3 - In exercise 6, data were given on the average...Ch. 15.3 - Prob. 17ECh. 15.3 - Refer to exercise 10, where Major League Baseball...Ch. 15.5 - In exercise 1, the following estimated regression...Ch. 15.5 - Refer to the data presented in exercise 2. The...Ch. 15.5 - The following estimated regression equation was...Ch. 15.5 - In exercise 4, the following estimated regression...Ch. 15.5 - Prob. 23ECh. 15.5 - Prob. 24ECh. 15.5 - The Cond Nast Traveler Gold List for 2012 provided...Ch. 15.5 - In exercise 10, data showing the values of several...Ch. 15.6 - In exercise 1, the following estimated regression...Ch. 15.6 - Refer to the data in exercise 2. The estimated...Ch. 15.6 - In exercise 5, the owner of Showtime Movie...Ch. 15.6 - In exercise 24, an estimated regression equation...Ch. 15.6 - The American Association of Individual Investors...Ch. 15.7 - Consider a regression study involving a dependent...Ch. 15.7 - Consider a regression study involving a dependent...Ch. 15.7 - Management proposed the following regression model...Ch. 15.7 - Refer to the Johnson Filtration problem introduced...Ch. 15.7 - This problem is an extension of the situation...Ch. 15.7 - The Consumer Reports Restaurant Customer...Ch. 15.7 - A 10-year study conducted by the American Heart...Ch. 15.8 - Data for two variables, x and y, follow. xi 1 2 3...Ch. 15.8 - Data for two variables, x and y, follow. xi 22 24...Ch. 15.8 - Exercise 5 gave the following data on weekly gross...Ch. 15.8 - The following data show the curb weight,...Ch. 15.8 - The Ladies Professional Golfers Association (LPGA)...Ch. 15.9 - Refer to the Simmons Stores example introduced in...Ch. 15.9 - In Table 15.12 we provided estimates of the...Ch. 15.9 - Community Bank would like to increase the number...Ch. 15.9 - Over the past few years the percentage of students...Ch. 15.9 - The Tire Rack maintains an independent consumer...Ch. 15 - The admissions officer for Clearwater College...Ch. 15 - The personnel director for Electronics Associates...Ch. 15 - A partial computer output from a regression...Ch. 15 - Recall that in exercise 49, the admissions officer...Ch. 15 - Recall that in exercise 50 the personnel director...Ch. 15 - The Tire Rack, Americas leading online distributor...Ch. 15 - The Department of Energy and the U.S....Ch. 15 - A portion of a data set containing information for...Ch. 15 - Fortune magazine publishes an annual list of the...Ch. 15 - Consumer Research, Inc., is an independent agency...Ch. 15 - Matt Kenseth won the 2012 Daytona 500, the most...Ch. 15 - Finding the Best Car Value When trying to decide...
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