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.If the company uses $40,000 in advertisement and has 30 salespersons, what are the expected sales? Give your answer in dollars.
b.At = 0.05, test for the significance of the coefficient of advertising.
c.At = 0.05, test for the significance of the coefficient of the number of salespeople.
Definitions:
Need for Achievement
A psychological trait that drives an individual to pursue and attain goals, often associated with a high level of motivation and ambition.
Irrational
Lacking reason or logical thinking; actions or beliefs that are not based on logical reasoning or clear thinking.
Self-destructive Behaviors
Actions undertaken by an individual that intentionally or inadvertently cause harm or damage to themselves, often as a way of coping with distress or psychological pain.
Psychoanalysis
A therapeutic approach based on Freudian theories focusing on unconscious motivations and conflicts.
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