step 28 Rerun the multiple regression model using only predictors significant at the .01 level (e.g., exclude the # of competing stores as a predictor). What is the new standard error?

Hint: To find the standard error for predicted annual sales, click on Descriptives under the Statistics submenu of the Regression window.

	a.	$38,144.00
	b.	$74,500.00
	c.	$38.144
	d.	Unable to determine without more information.

Our adjusted coefficient of determination is 98.4%. This means 98.4% of the variation in stores annual sales is explained by variation in the advertising, size of the sales district, and number of competing stores in the district. Our multiple regression model equation is: Annual Predicted Sales = -31.50 + 20.66*(Advertising Budget) + 19.14*(Size of Sales District) 4.96*(# of competing stores)

26. Use this equation to predict the annual predicted sales for an advertising budget of 7.50 (i.e., $7,500), sales district size of 6.7 (i.e., 6700 families), and 12 competing stores. Do this by hand and enter in on the online electronic assignment corresponding to this lab.

27. Look at the p-values for each predictor. The p-value for the advertising budget is

Part F: Your Turn

28. Rerun the multiple regression model using only predictors significant at the .01 level (e.g., exclude the # of competing stores as a predictor). What is the new R2 value? What is the new standard error? Use the new equation to predict the annual predicted sales for an advertising budget of 7.50 (i.e., $7,500), sales district size of 6.7 (i.e., 6700 families), and 12 competing stores. You do not need to check assumptions because our previous assumption checking is still valid. You will enter these answers on the corresponding electronic assignment.

(Multiple Regression Step 26 in Lab) Our tutorial yielded the regression equation: Annual Predicted Sales = -31.50 +20.66 x (Advertising) +19.14x(Size of Sales District) -4.96 (# of Competing Stores) Use this equation to predict the annual predicted sales for an advertising budget of 7.50 (i.e., $7,500), sales district size of 6.7 (i.e., 6700 families), and 12 competing stores. O a. $192,168 O b. $283,096.98 O c. $192.17 Od. $235,678.99 QUESTION 2 1 points Saved (Multiple Regression Step 28) Rerun the multiple regression model using only predictors significant at the .01 level (e.g., exclude the # of competing stores as a predictor). What is the new R2 value? = 98.2%; Adjusted R2 = 26.353%; R? Oa R? =98.3%; Adjusted R2 =98.2%; Ob. R? = 99.2%; Adjusted R2 =98.3%; Oc R? = 99.2%; Adjusted R2 = 26.353%; O d