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.
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.

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Definitions:

Contingency Time

A reserve time added to a project's schedule to account for potential unforeseen delays.

Late Start Dates

The latest possible dates by which an activity within a project can begin without delaying the project completion.

Complexity Profile

An assessment or understanding of the various factors that contribute to a project's complexity, including technical challenges, stakeholder diversity, and scope volatility.

Median Age

The age that divides a population into two numerically equal groups; half the people are older than this age and half are younger.