A Regression Analysis Relating a Company's Sales,their Advertising Expenditure,price,and Time

question 9

Essay

A regression analysis relating a company's sales,their advertising expenditure,price,and time resulted in the following.

a.At 95% confidence,determine whether or not the regression model is significant.Fully explain how you arrived at your conclusion (give numerical reasoning)and what your answer indicates.
b.At 95% confidence determine which variables are significant and which are not.Explain how you arrived at your conclusion (Give numerical reasoning).
c.Fully explain the meaning of R-square,which is given in this model.Be very specific and give numerical explanation.

---

Definitions:

Income

The amount of money received over a period of time, usually from work, investments, or business activities.

Guiding Function

A principle or mechanism that directs actions or decisions towards a desired outcome or objective.

Market Conditions

Various factors and influences that affect the supply and demand of products and services within a market, including competition, consumer preference, and economic environment.

Changes In Prices

Variations in the cost of goods and services over time due to factors like inflation, supply and demand, or economic policies.