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

question 96

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?

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Definitions:

Proteins

Large molecules made up of amino acids that play many critical roles in the body, including in the structure, function, and regulation of the body's tissues and organs.

Stomach

Tubular, muscular organ that functions in chemical and mechanical digestion.

Peristalsis

Wavelike smooth muscle contractions that propel food through the digestive tract.

Food

Any nutritious substance that people or animals eat or drink, or that plants absorb, in order to maintain life and growth.