Multiple Linear Regression.

A hypothetical company examined the relationship between monthly sales (in millions of dollars) and a selection of advertising choices - television, radio, magazines, and online - for 10 companies in 2020.All advertising expenditures are in millions of dollars.The results can be found in Question 4 output.

a. Based on your output, should the company spend money on magazine advertising?Explain. (3)

b. Will spending on television advertising likely increase mean sales?Discuss but you do not have to conduct a full test. (4 marks)

c. Estimate expected sales if the company spent $6 million on television advertising, $4million on magazines, $3million on radio, and $1 million on online advertising. (2)

d. Identify one influential observation and utilize 2 statistics to support your argument.Show your calculations (3)

e. How does observation 10 impact the value of the intercept? (2)

f. How does observation 10 influence the slope for the independent variable online advertising?(2)

g. Are any of the independent variables highly correlated with each other?Explain (3 marks)

h. A Breusch Pagan statistic of 5.9 with a degree of freedom of 3 was calculated.Does this indicate a problem with the model?Conduct an appropriate test using an alpha of 5%.(6 marks)