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

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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.  The following is part of the results of a regression analysis involving sales (Y in millions of dollars), advertising expenditures (X<sub>1</sub> in thousands of dollars), and number of salespeople (X<sub>2</sub>) for a corporation. The regression was performed on a sample of 10 observations.    a.If the company uses $40,000 in advertisement and has 30 salespersons, what are the expected sales? Give your answer in dollars. b.At  \alpha  = 0.05, test for the significance of the coefficient of advertising. c.At  \alpha  = 0.05, test for the significance of the coefficient of the number of salespeople.
a.If the company uses $40,000 in advertisement and has 30 salespersons, what are the expected sales? Give your answer in dollars.
b.At α\alpha = 0.05, test for the significance of the coefficient of advertising.
c.At α\alpha = 0.05, test for the significance of the coefficient of the number of salespeople.


Definitions:

Marketing Analytics

The method of evaluating, controlling, and examining marketing outcomes to enhance its efficiency and improve the return on investment (ROI).

Ethical Companies

Businesses that operate in a manner that is considered morally right, adhering to principles of fairness, honesty, and respect for individuals and the environment.

U.S. Large-Cap Index

A stock market index that measures the performance of large capitalization stocks in the United States.

Profitability

The degree to which a company or activity yields profit or financial gain, often measured over a specific period.

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