In Order to Determine Whether or Not the Number of Automobiles

question 27

Essay

In order to determine whether or not the number of automobiles sold per day (y) is related to price (x₁ in $1,000), and the number of advertising spots (x₂), data were gathered for 7 days. Part of the Excel output is shown below.
a.Determine the least squares regression function relating y to x₁ and x₂.
b.If the company charges $20,000 for each car and uses 10 advertising spots, how many cars would you expect them to sell in a day?
c.At $\alpha$ = 0.05, test to determine if the fitted equation developed in Part a represents a significant relationship between the independent variables and the dependent variable.
d.At $\alpha$ = 0.05, test to see if $\beta$ ₁ is significantly different from zero.
e.Determine the multiple coefficient of determination.

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