Examlex

Solved

When a Regression Model Was Developed Relating Sales (Y) of a Company

question 29

Essay

When a regression model was developed relating sales (Y) of a company to its product's price (X1), the SSE was determined to be 495. A second regression model relating sales (Y) to product's price (X1) and competitor's product price (X2) resulted in an SSE of 396. At α\alpha = 0.05, determine if the competitor's product's price contributed significantly to the model. The sample size for both models was 33.


Definitions:

Related Questions