2.What is the predicted pie sales if the price is $5.00 and $400 is spent on adv
ID: 3218094 • Letter: 2
Question
2.What is the predicted pie sales if the price is $5.00 and $400 is spent on advertising? Round your answer to 1 decimal place.
3. The Multiple Coefficient of Determination, r2, is equal to
4.The proportion of variation in Pie Sales explained by Price and Advertising, adjusted for the number of X variables used is
0.52148 Regression Statistics Multiple R 0.72213 0.52148 R Square Adjusted R Square 0.44172 Standard Error 47.46341 Sales 306526-24.9750Price)+ 74.131(Advertising) 15 Observations ANOVA SS MS Significance F 0.01201 Regression 29460.027 14730.013 6.53861 Residual 12 27033.306 2252.776 Total 56493.333 14 Coefficients Standard Error t Stat P-value Lower 95% Upper 95% 306.52619 Intercept 114.25389 2.68285 0.01993 57.58835 555.46404 48.57626 10.83213 -2.30565 0.03979 -1.37392 Price -24.97509 Advertising 74.13096 25.96732 2.85478 0.01449 17.55303 130.70888 What is the value of the test statistic used to test the null hypothesis Ho: 31 B2 -o 6.53861 2.68285 2.30565 2.85478Explanation / Answer
1) Since we need to test for both the coefficient that means we are testing here for the model and therefore,
The test statistic will be 6.53861.
Option A is correct.
2) For price = 5, advertising = 400,
Sales = 306.52619 -24.97509(5) + 74.13096(400)
Sales = 29834.0 (Rounded off to 1 decimal place)
3) Option A is correct.
4) Option A is correct.
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