The Brock Juice Company Has Developed a Regression Model Relating $\alpha$

question 4

Essay

The Brock Juice Company has developed a regression model relating sales (Y in $10,000s) with four independent variables. The four independent variables are price per unit (X₁, in dollars), competitor's price (X₂, in dollars), advertising (X₃, in $1,000s) and type of container used (X₄) (1 = Cans and 0 = Bottles). Part of the regression results are shown below:
a.Compute the coefficient of determination and fully interpret its meaning.
b.Is the regression model significant? Explain what your answer implies. Let $\alpha$ = 0.05.
c.What has been the sample size for this analysis?

---

Definitions:

Negligence Or Mismanagement

The failure to exercise the care or oversight required, resulting in harm or loss.

Duty Of Care

A legal obligation imposed on individuals or organizations to adhere to a standard of reasonable care while performing any acts that could foreseeably harm others.

Breaching

The behavior of violating or not adhering to a law, contract, or set of rules.

Delegate Tasks

The act of assigning responsibilities or duties to another individual or team.