Regression Analysis the Local Grocery Store Wants to Predict

question 109

Multiple Choice

Regression Analysis The local grocery store wants to predict the daily sales in dollars.The manager believes that the amount of newspaper advertising significantly affects the store sales.He randomly selects 7 days of data consisting of daily grocery store sales (in thousands of dollars) and advertising expenditures (in thousands of dollars) .The Excel/Mega-Stat output given above summarizes the results of the regression model. At a significance level of .05,test the significance of the slope and state your conclusion.

• A)We reject H₀ and conclude there is sufficient evidence that dollars spent on advertising is a useful linear predictor of the grocery store sales.
• B)We failed to reject H₀ and conclude there is not sufficient evidence that dollars spent on advertising is a useful linear predictor of the grocery store sales.
• C)We failed to reject H₀ and conclude there is sufficient evidence that dollars spent on advertising is a useful linear predictor of the grocery store sales.
• D)We reject H₀ and conclude that there is sufficient evidence that grocery store sales in dollars is a useful linear predictor of the dollars spent on advertising.
• E)We reject H₀ and conclude that there is not sufficient evidence that dollars spent on advertising is a useful linear predictor of the grocery store sales.

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Definitions:

Cognitive Therapy

A form of psychotherapy that focuses on changing unhelpful or destructive thought patterns in order to improve emotional regulation and develop personal coping strategies.

Schizotypal Personality Disorder

A brain disorder that involves acute social discomfort, disordered thought processes, paranoid ideations, a sense of being detached from reality, sporadic psychotic breaks, and often unique beliefs.

Social Contacts

Refers to interactions and relationships with other people in a social context.

Bizarre Thoughts

Extremely unusual or strange ideas that might indicate a mental health disorder.