EXCEL FORMULAS ONLY

Problem 2: Multiple Regression See problem description in the Advertising tab of the template file. Problem 2 A customer production company is interested in the effectiveness of radio advertising and newspaper advertising. A sample of 22 cities with approximately equal populations is selected for study during a test period of one month. The sales of product (in thousands of dollars) and also the level of media expenditure (in thousands of dollars) during the test month are presented below. a) State the multiple rogation equation. b) Interpret the meanings of both slopes. c) Predict the sales for a city in which radio advertising is $20,000 and newspaper advertising is $22,000. d) Highlight the coefficient of determination and explain its meaning. e) Is there a linear relationships between 1) Sales and Radio Ads? 2) Sales and Newspaper Ads? D A Sales 11 ($1000s) B Radio ($1000s) Newspaper ($1000s) 12 973 0 40 13 0 1,119 875 40 25 14 25 625 25 25 16 910 30 30 17 971 30 30 18 931 35 35 19 35 35 20 40 25 21 40 25 22 45 45 23 45 45 24 50 0 1,177 882 982 1,628 1,577 1,044 914 1,329 1,330 1,405 1,436 1,521 25 50 0 26 25 55 55 27 25 28 60 30 60 30 29 30 65 35 31 1,741 65 35 70 40 32 3 1,866 1,717 70 40