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

question 25

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. $The following is part of the results of a regression analysis involving sales (y in millions of dollars), advertising expenditures (x<sub>1</sub> in thousands of dollars), and number of salespeople (x<sub>2</sub>) for a corporation. The regression was performed on a sample of 10 observations. a.If the company uses $40,000 in advertisement and has 30 salespersons, what are the expected sales? Give your answer in dollars. b.At \alpha = 0.05, test for the significance of the coefficient of advertising. c.At \alpha = 0.05, test for the significance of the coefficient of the number of salespeople.$
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 $\alpha$ = 0.05, test for the significance of the coefficient of advertising.
c.At $\alpha$ = 0.05, test for the significance of the coefficient of the number of salespeople.

Definitions:

Raw Materials Used

The initial ingredients or components that are consumed in the manufacturing process to create a finished product.

Journal Entry

A record of financial transactions in the accounting system, ensuring that all changes in financial statements are documented and explained.

Production

The process of creating, growing, manufacturing, or improving goods and services.

Manufacturing Overhead

All indirect costs associated with the production process, such as utilities, maintenance, and factory management salaries.

The Following Is Part of the Results of a Regression α\alphaα

Definitions:

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