Question: Suppose we create a multiple linear regression model using the following variables. The Facebook budget, Google budget, and YouTube budget are all types of advertising

Suppose we create a multiple linear regression model using the following variables. The Facebook budget, Google budget, and YouTube budget are all types of advertising budgets, and are given in dollars. Units Sold FacebookBudget GoogleBudget YouTubeBudget We use the following command in R: lm(UnitsSold ~ FacebookBudget + GoogleBudget + YouTubeBudget, data=BronlynsExamData) we obtain the following in R: Variable Estimate of coefficient p-value (intercept) 40000 Less than 0.0001 FacebookBudget 0.9 0.0027 GoogleBudget 1.2 Less than 0.0001 YouTubeBudget 0.01 0.87 Is the following statement true, false, or not enough information: When the Facebook budget equals $1000, then the predicted number of units sold equals 40000 + 0.9*(1000) = 40900 units Question 33 options: True False or not enough information

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
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 Economics Questions!