As a sales manager of your company you decided to examine if the sales (in quant

Question

As a sales manager of your company you decided to examine if the sales (in quantity), Q, is determined by your own product price ( in dollars), P, advertisement expenditure ( in million dollars), A, and consumers average income (in 1,000 dollars), Y, you estimated a multiple regression equation of:
Q= a + bP + cA + dY where a, b, c, and d are coefficients.
The following is a partial printout of the multiple regression estimation obtained with missing values due to ink shortage:
Summary Output
Regression Statistics
Multiple R R Square Adjusted R Square Standard Error 150 Observations. 10 ANOVA

Coefficients:
Intercept: 20 Price: -10 Advertise: 15 Income: 30
Standard error:
Intercept: Price: 2.3173 Advertise: 9.1597 Income: 11.7587
T-stat:
Intercept: 2.0172 Price: Advertise: Income:
P-value:
Intercept: 0.090245 Price: 0.005008 Advertise: 0.15262 Income: 0.043415

Based on the information the slope coefficient(s) that is/are significant at a 1% significance level is/are ____.
A. Intercept and price B. Intercept and advertisement C. Price and income D. Price only E. None of the above

As a sales manager of your company you decided to examine if the sales (in quantity), Q, is determined by your own product price ( in dollars), P, advertisement expenditure ( in million dollars), A, and consumers average income (in 1,000 dollars), Y, you estimated a multiple regression equation of:
Q= a + bP + cA + dY where a, b, c, and d are coefficients.
The following is a partial printout of the multiple regression estimation obtained with missing values due to ink shortage:
Summary Output
Regression Statistics
Multiple R R Square Adjusted R Square Standard Error 150 Observations. 10 ANOVA

Coefficients:
Intercept: 20 Price: -10 Advertise: 15 Income: 30
Standard error:
Intercept: Price: 2.3173 Advertise: 9.1597 Income: 11.7587
T-stat:
Intercept: 2.0172 Price: Advertise: Income:
P-value:
Intercept: 0.090245 Price: 0.005008 Advertise: 0.15262 Income: 0.043415

Based on the information the slope coefficient(s) that is/are significant at a 1% significance level is/are ____.
A. Intercept and price B. Intercept and advertisement C. Price and income D. Price only E. None of the above

As a sales manager of your company you decided to examine if the sales (in quantity), Q, is determined by your own product price ( in dollars), P, advertisement expenditure ( in million dollars), A, and consumers average income (in 1,000 dollars), Y, you estimated a multiple regression equation of:
Q= a + bP + cA + dY where a, b, c, and d are coefficients.
The following is a partial printout of the multiple regression estimation obtained with missing values due to ink shortage:
Summary Output
Regression Statistics
Multiple R R Square Adjusted R Square Standard Error 150 Observations. 10 ANOVA

Coefficients:
Intercept: 20 Price: -10 Advertise: 15 Income: 30
Standard error:
Intercept: Price: 2.3173 Advertise: 9.1597 Income: 11.7587
T-stat:
Intercept: 2.0172 Price: Advertise: Income:
P-value:
Intercept: 0.090245 Price: 0.005008 Advertise: 0.15262 Income: 0.043415

Based on the information the slope coefficient(s) that is/are significant at a 1% significance level is/are ____.
A. Intercept and price B. Intercept and advertisement C. Price and income D. Price only E. None of the above

Explanation / Answer

P - value of price is less than 0.01.. So only price is significant at a 1% significance level

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