O1. Fill the blank with the appropriate statistical evidence (weak evidence, ver

Question

O1. Fill the blank with the appropriate statistical evidence (weak evidence, very strong evidence, strong evidence, and no evidence) based on the correct p-value. therefore there is If the p-value takes on a value of less than 0.10 0.01 0.05 Q2. Discuss the predicting power of the model and its goodness of fit based on one of the following tables. The dependent variable is annual sales expressed in $1,000 and the independent variable is years of experience. Model R square Adjusted R square Std. Error of the Estimate 0.965 0.970 0.960 4.160 Model Sum of squares df Mean square 2272.000 p-value Regression Residual Total 2272.000 196.918 0.000 170.000 21.250 2442.000

Explanation / Answer

Q3)
a) Given Sales = 50 + 10*Investment Spending + 20*advertisement Spending
The predict sales from 15,000 investment spending and 10,000 advertisement spending is
Sales = 50 + 10*15000 + 20*10000
= 350050

b)
b-1) The coefficient of investment spending is 10 which is >0, thus there exist positive correlation between sales and investment spending
If 1 dollar increase in investment spending with constant adveristment spending then the sales will be increase $10

b-2) The coefficient of advertisments spending is 20 which is >0, thus there exist positive correlation between sales and investment spending
If 1 dollar increase in investment spending with constant adveristment spending then the sales will be increase $20

c)
since the coefficient of 'advertisement spending' is higher than that of investment spending
therefore, if we spent on advertisement spending then we will increase in sales

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