The Following Is Part of the Results of a Regression $\alpha$

question 49

Essay

The following is part of the 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.
a.Write the regression equation.
b.Interpret the coefficients of the estimated regression equation found in Part (a).
c.At $\alpha$ =0.05, test for the significance of the coefficient of advertising.
d.At $\alpha$ =0.05, test for the significance of the coefficient of number of salespeople.
e.If the company uses $50,000 in advertisement and has 800 salespersons, what are the expected sales? Give your answer in dollars.

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Definitions:

Political Impact

The influence or effect that political actions, decisions, or events have on the governance, policy, or societal conditions of a community, region, or country.

Slavery

is a system in which people are owned by others, deprived of personal freedom and compelled to perform labor or services.

Abraham Lincoln

The 16th President of the United States, known for leading the country during the Civil War and issuing the Emancipation Proclamation.

Union War Effort

Refers to the collective military, economic, and political efforts undertaken by the Northern states of the U.S. during the Civil War to defeat the Confederacy.