An electronics company is looking to develop a regression model to predict the n
ID: 424970 • Letter: A
Question
An electronics company is looking to develop a regression model to predict the number of units sold for a special running watch. Data is provided below:
Sales (units)
Price ($)
Advertising ($)
500
100
50
480
120
40
485
110
45
510
103
55
490
108
40
488
109
30
496
106
45
If the alpha for the F Statistic is 0.05 the model is [ Select ] ["not significant", "significant", "incomplete so the F Statistic can not be computed"] .
Use Quiz 4 Excel, Regression 1.
Sales (units)
Price ($)
Advertising ($)
500
100
50
480
120
40
485
110
45
510
103
55
490
108
40
488
109
30
496
106
45
Explanation / Answer
As the Alpha corresponds to 0.05, we can say that the probability of rejecting the null hypothesis when it is true is 5%. This is a desired statistics and hence tha value make the F statistics "Significant".
Answer- B) Significant
Please Like & Provide your reviews in comments. :-)
Related Questions
drjack9650@gmail.com
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.