The Manufacturer of a Light Fixture Believes That the Dollars

question 77

Essay

The manufacturer of a light fixture believes that the dollars spent on advertising,the price of the fixture and the number of retail stores selling the fixture in a particular month,influence the light fixture sales.The manufacturer randomly selects 10 months and collects the following data: The sales are in thousands of units per month,the advertising is given in hundreds of dollars per month,and the price is the unit retail price for the particular month.Using MINITAB the following computer output is obtained.
The regression equation is
Sales = 31.0 + 0.820 Advertising - 0.325 Price + 1.84 Stores S = 5.465 R - Sq = 96.7% R - Sq(adj)= 95.0%
Analysis of Variance Based on the multiple regression model given above,estimate the monthly light fixture sales and calculate the value of the residual,if the company spends $4000 on advertising,the price of the fixture is $60 and the fixture is being sold at 3 retail stores.

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Definitions:

Profane

Not relating to that which is sacred or religious; secular.

Everyday World

The realm of daily life where individuals engage in routine activities and interactions.

Durkheim

Emile Durkheim, a foundational French sociologist, is known for his works on social solidarity, collective conscience, and the role of social integration in maintaining societal order.

Profane

That which is ordinary or not sacred, often referring to everyday objects and concerns outside the realm of the religious or holy.