The Following Are Partial Results of a Regression Analysis Involving

question 59

Essay

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.)

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