The following regression model has been proposed to predict monthly sales at a shoe store. = 40 - 3x₁ + 12x₂ + 10x₃
where
x₁ = competitor's previous month's sales (in $1,000s)
x₂ = Stores previous month's sales (in $1,000s) = sales (in $1000s)
a.Predict sales (in dollars) for the shoe store if the competitor's previous month's sales were $9,000, the store's previous month's sales were $30,000, and no radio advertisements were run.
b.Predict sales (in dollars) for the shoe store if the competitor's previous month's sales were $9,000, the store's previous month's sales were $30,000, and 10 radio advertisements were run.

Question

The following regression model has been proposed to predict monthly sales at a shoe store.

= 40 - 3x₁ + 12x₂ + 10x₃
where
x₁ = competitor's previous month's sales (in $1,000s)
x₂ = Stores previous month's sales (in $1,000s)

= sales (in $1000s)
a.Predict sales (in dollars) for the shoe store if the competitor's previous month's sales were $9,000, the store's previous month's sales were $30,000, and no radio advertisements were run.
b.Predict sales (in dollars) for the shoe store if the competitor's previous month's sales were $9,000, the store's previous month's sales were $30,000, and 10 radio advertisements were run.

Quizplus · Accepted Answer

The Answer of The following regression model has been proposed to predict monthly sales at a shoe store. = 40 - 3x₁ + 12x₂ + 10x₃ where x₁ = competitor's previous month's sales (in $1,000s) x₂ = Stores previous month's sales (in $1,000s) = sales (in $1000s) a.Predict sales (in dollars) for the shoe store if the competitor's previous month's sales were $9,000, the store's previous month's sales were $30,000, and no radio advertisements were run. b.Predict sales (in dollars) for the shoe store if the competitor's previous month's sales were $9,000, the store's previous month's sales were $30,000, and 10 radio advertisements were run.

The Following Regression Model Has Been Proposed to Predict Monthly