A corporation owns several companies. The strategic planner for the corporation believes dollars spent on advertising can to some extent be a predictor of total sales dollars. As an aid in long-term planning, she gathers the following sales and advertising information from twelve of the companies for 2012 (in $ millions). Solve by excel and mega stat and answer the following questions:
1) Is the regression statistically significant? Let α = .05. Test for statistical significance by using both the critical t value and the p-value. What do you conclude?
2) Indicate the regression equation. If x = 40 what is an estimate for ŷ.
3) What is the Standard Error of the Estimate, Se.
4) What arethe 95% confidence and prediction intervals for the values of ŷ for X = 40.Interpret these intervals.
5) What isthe correlation coefficient,Interpret.
6) What is the coefficient of determination,Interpret.
7) Verify the coefficient of determination from the ANOVA table values.(Show the calculation).
8) Verify the standard error of the estimate from the ANOVA table values.(Show the calculation).
9) Verify the adjusted coefficient of determination from the ANOVA table values. (Show the calculation).
- 7 years ago
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