A Regression Model Relating Units Sold Y), Price X1), and Whether

question 48

Essay

A regression model relating units sold Y), price X1), and whether or not promotion was used X2 = 1 if promotion was used and 0 if it was not) resulted in the following model.
$\hat { Y }$ =120 - 0.03X1 =0.7X2
and the following information is provided.
n= 15 Sb₁ = .01 Sb2 = 0.1
a. Is price a significant variable?
b. Is promotion significant?

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Definitions:

Inuit Culture

The cultural practices, traditions, beliefs, and values of the Inuit, indigenous peoples inhabiting the Arctic regions of Greenland, Canada, and Alaska.

Western Culture

Western culture refers to the social norms, values, traditions, and practices originated from or associated with Europe and the Western world.

Convergence

The act of moving towards unity or coming together, used in various contexts including visual perception, where it refers to the inward turning of the eyes towards the nose to focus on near objects.

Depth Perception

The ability to judge the distance of objects and the spatial relationship of objects at different distances.