Observations are taken on sales of a certain mountain bike in 30 sporting goods
ID: 3393373 • Letter: O
Question
Observations are taken on sales of a certain mountain bike in 30 sporting goods stores. The regression model was Y = total sales (thousands of dollars), X1 = display floor space (square meters), X2 = competitors' advertising expenditures (thousands of dollars), X3 =advertised price (dollars per unit).
Fill in the values in the table given here. (Negative values should be indicated by a minus sign. Leave no cells blank - be certain to enter "0" wherever required. Round your t-values to 3 decimal places and p-values to 4 decimal places.)
What is the critical value of Student's t in Appendix D for a two-tailed test at = .01? (Round your answer to 3 decimal places.)
t-value =
(b-2)
Choose the correct option.
Observations are taken on sales of a certain mountain bike in 30 sporting goods stores. The regression model was Y = total sales (thousands of dollars), X1 = display floor space (square meters), X2 = competitors' advertising expenditures (thousands of dollars), X3 =advertised price (dollars per unit).
Explanation / Answer
a)
b-1.
Here, df = n - k - 1 = 30 - 3 - 1 = 26.
Thus, at alpha = 0.01, 2 tailed,
tcrit = 2.778714533 [ANSWER]
b-2.
As the only one which exceeded the critical value,
A) Only FloorSpace differs significantly from zero. [ANSWER]
Predictor Coefficient SE tcalc p-value Intercept 1,225.40 397.3 3.08431915 0.00479138 FloorSpace 11.522 1.33 8.66315789 3.8486E-09 Competing Ads -6.935 3.905 -1.7759283 0.08745127 Price -0.14955 0.08927 -1.67525484 0.10587182Related Questions
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