Below you are given a partial computer output based on a sample of 12 observations relating to the number of personal computers sold by a computer shop per month ( y ), unit price ( x 1 in $1000), and the number of advertising spots ( x 2 ) used on a local television station Coefficients 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 the estimated regression equation found in Part a 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 05, test to determine if the number of advertising spots is a significant variable

Question: Below you are given a partial computer output based on a sample of 12 observations relating to the number of personal computers sold by a

Below you are given a partial computer output based on a sample of 12 observations relating to the number of personal computers sold by a computer shop per month (y), unit price (x₁ in $1000), and the number of advertising spots (x₂) used on a local television station.

	*Coefficients*	*Standard Error*
Constant	17.145	7.865
x₁	-0.104	3.282
x₂	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 the estimated regression equation found in Part a.
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 α = .05, test to determine if the number of advertising spots is a significant variable.

Step by Step Solution

★★★★★

3.45 Rating (161 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

Solution a Obtain the regression equation From the given output the regression equation is y1714501... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!

Below you are given a partial computer output based on a sample of 8 observations, relating an independent variable (x) and a dependent variable (y). Coefficient standard error Intercept -9.462 7.032...

The U.S. Department of Energy's Fuel Economy Guide provides fuel efficiency data for cars and trucks. A portion of the data for 311 compact, midsized, and large cars follows. The Class column...

A portion of a data set containing information for 45 mutual funds that are part of the Morningstar Funds 500 for 2008 follows. The complete data set is available in the file named MutualFunds. The...

You are given the following information: Stockholders equity = $3.75 billion, price/earnings ratio = 3.5, common shares outstanding = 50 million, and market/book ratio = 1.9. Calculate the price of a...

Purchasing Department cost drivers, multiple regression analysis (continuation of 10-40) (chapter appendix) Barry Lee decides that the simple regression analysis used in Problem 10-40 could be...

A chemical company produces amongst its product range two industrial cleaning fluids, A and B. These products are manufactured jointly. Total sales are expected to be restricted because home trade...

Assume that Flowers 4 You does a regression analysis on the next year's data using Excel. The output generated by Excel is as follows: Requirements 1. Determine the firm's cost equation (use the...

You are given the following information for River Adventures Company: The adjusted cash balance per bank agreed with the cash balance per books at April 30, 2014. The May bank statement showed the...

Consider a three-phase synchronous motor for which you are given the following data: Rated line-to-line voltage (V), Rated volt-amperes (VA), Rated frequency (Hz) and speed (r/min), Synchronous...

Acme Corporation has received a contractual order to build a new tooling machine for Alpha Corporation. The project started several months ago. Table 1514 is the Monthly Cost Summary for June, 2002....

Points given for fast correct answers At the end of the year, Shiloh Industries reported retained earnings of $497.000 on its balance sheet, and it reported that it had $179.000 of net income during...

Which country has the absolute advantage in computer production? Use the following table: Amount of Beef or Computers Produced by One Worker in a Day Canada Beef Computers Japan 8 5 3 4

Which country has the comparative advantage in computer production? Use the following table: Amount of Beef or Computers Produced by One Worker in a Day Canada Beef Computers Japan 8 5 3 4

A metal sphere is grounded and an electrically charged rod is held close to it. The sphere acquires a charge $q$. The grounding wire is removed, and the sphere is brought in contact with another...

Consider the nonlinear regression model $y=\exp \left(\mathbf{x}^{\prime} \boldsymbol{\beta} ight) /\left[1+\exp \left(\mathbf{x}^{\prime} \boldsymbol{\beta} ight) ight]+u$, where the error term is...

The term blue chip applies to stocks issued by a company in excellent financial standing with a record of producing earnings and paying dividends. Stocks in companies such as GE and Chrysler were...

Write a program traverse graph ( BFS ) in java:

1-Stern observed all of the following results EXCEPT _______ in his experiment. A-one of the recombinant phenotypes was associated with an X chromosome of normal length B-the number of car, B+ male...

During the period of time that a local university takes phone-in registrations, calls come in at the rate of one every two minutes. a. What is the expected number of calls in one hour? b. What is the...

According to Thomson Financial, through January 25, 2006, the majority of companies reported profits had beaten estimates (BusinessWeek, February 6, 2006). A sample of 162 companies showed 104 beat...

In an attempt to assess total daily travel taxes in various cities, the Global Business Travel Association conducted a study of daily travel taxes on lodging, rental cars, and meals (GBTA Foundation...

23. Why do recent studies show a stronger relationship between brain size and IQ than older studies didpg78

4. Correlate brain anatomy with behavior. Do people with some unusual behavior also have unusual brainspg78 If so, in what waypg78