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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Definitions:

Diversity

Refers to the inclusion of different types of people (such as people of different races, cultures, genders) in a group or organization.

Feelings

Emotional states or reactions that are subjectively experienced as part of an individual's consciousness.

Exclusion

The act of preventing someone's participation or access to a group, activity, or resource.

Conflict

A struggle or clash between opposing forces, arising from differences in ideas, values, or interests.