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

question 106

Essay

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.

a.Write the regression equation.
b.Interpret the coefficients of the estimated regression equation found in Part (a).
c.At $\alpha$ =0.05, test for the significance of the coefficient of advertising.
d.At $\alpha$ =0.05, test for the significance of the coefficient of number of salespeople.
e.
If the company uses $50,000 in advertisement and has 800 salespersons, what are the expected sales? Give your answer in dollars.

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Definitions:

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