Question 2: a) Below are the key descriptive statistics on the variable, Advertising Expenses. Calculate a 95% confidence interval for the mean of advertising expenses. Advertising Expenses Mean 23105.26316 Standard Error 1962.953284 Median 24000 Mode 25000 Standard Deviation 8556.314996 Sample Variance 73210526.32 Kurtosis 0.169793834 Skewness -0.011911165 Range 35000 Minimum 5000 Maximum 40000 Sum 439000 Count 19 Answer: b) Below is the summary output of a regression where sales would be explained by advertising expenses. Interpret the regression diagnostics. Regression Statistics Multiple R 0.515262 R Square 0.265495 Adjusted R Square 0.222289 Standard Error 2407.614 Observations 19 ANOVA df SS MS F Regression 1 35619188 35619188 6.144837 Residual 17 98542277 5796605 Total 18 1.34E+08 Coefficientsandard Err t Stat P-value Intercept 11722.77 1628.914 7.196674 1.49E-06 Advertising Expenses 0.164407 0.066323 2.478878 0.02396