The following are partial results of a regression analysis involving sales Y in millions of dollars), advertising expenditures X1 in thousands of dollars), and number of salespeople X2) for a corporation. The regression was performed on a sample of 10 observations.
$$\begin{array} { l c c }
& \text { Coeffcient } & \text { Standard Error } \
\text { Constant } & 50.00 & 20.00 \
\mathbf { x } _ { 1 } & 3.60 & 1.20 \
\mathbf { x } _ { 7 } & 0.20 & 0.20
\end{array}$$
a. At α = 0.05, test for the significance of the coefficient of advertising.
b. If the company uses $20,000 in advertisement and has 300 salespersons, what are the expected sales? Give your answer in dollars.)

Question

The following are partial results of a regression analysis involving sales Y in millions of dollars), advertising expenditures X1 in thousands of dollars), and number of salespeople X2) for a corporation. The regression was performed on a sample of 10 observations.
 $$\begin{array} { l c c } 
& \text { Coeffcient } & \text { Standard Error } \
\text { Constant } & 50.00 & 20.00 \
\mathbf { x } _ { 1 } & 3.60 & 1.20 \
\mathbf { x } _ { 7 } & 0.20 & 0.20
\end{array}$$ 
a. At α = 0.05, test for the significance of the coefficient of advertising.
b. If the company uses $20,000 in advertisement and has 300 salespersons, what are the expected sales? Give your answer in dollars.)

Quizplus · Accepted Answer

The Answer of The following are partial results of a regression analysis involving sales Y in millions of dollars), advertising expenditures X1 in thousands of dollars), and number of salespeople X2) for a corporation. The regression was performed on a sample of 10 observations.
 $$\begin{array} { l c c } 
& \text { Coeffcient } & \text { Standard Error } \
\text { Constant } & 50.00 & 20.00 \
\mathbf { x } _ { 1 } & 3.60 & 1.20 \
\mathbf { x } _ { 7 } & 0.20 & 0.20
\end{array}$$ 
a. At α = 0.05, test for the significance of the coefficient of advertising.
b. If the company uses $20,000 in advertisement and has 300 salespersons, what are the expected sales? Give your answer in dollars.)

The Following Are Partial Results of a Regression Analysis Involving