Below you are given a partial computer output based on a sample of 12 observations relating to the sales volume of computers (Y, (000s)), unit price (X 1 ,(000s)) and advertising expenditures (X 2 , (000s)) Coefficient Standard Error Constant 17 145 7 865 X 1 0 104 3 282 X 2 1 376 0 250 a Use the output shown above and write an equation that can be used to predict the monthly sales of computers b Interpret the coefficients of X 1 and X 2 c If the company charges $2000 for each computer and uses 10 advertising spots, how many computers would you expect them to sell d At 0 05, test to determine if the price is a significant variable e At 0 05, test to determine if the number of advertising spots is a significant variable f Construct a 95 confidence interval estimate of 2

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Question: Below you are given a partial computer output based on a sample of 12 observations relating to the sales volume of computers (Y, (000s)), unit

Below you are given a partial computer output based on a sample of 12 observations relating to the sales volume of computers (Y, (000s)), unit price (X₁,(000s)) and advertising expenditures (X₂, (000s)).

Coefficient

Standard Error

Constant

17.145

7.865

X₁

-0.104

3.282

X₂

1.376

0.250

Use the output shown above and write an equation that can be used to predict the monthly sales of computers.

Interpret the coefficients of X₁ and X₂.

If the company charges $2000 for each computer and uses 10 advertising spots, how many computers would you expect them to sell?

At = 0.05, test to determine if the price is a significant variable.

At = 0.05, test to determine if the number of advertising spots is a significant variable.

Construct a 95% confidence interval estimate of ₂.

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