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 = 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 = 0.05, test to see if 1 is significantly different from zero.
e.Determine the multiple coefficient of determination.
Definitions:
State of Flow
A psychological state where a person is fully immersed and engaged in an activity, experiencing a blend of focus, enjoyment, and fulfillment.
Mindfulness
The practice of being fully present and engaged in the moment, aware of one’s thoughts and feelings without judgment.
Present Moment
The current point in time, focusing on the immediate experience without dwelling on the past or anticipating the future.
Locus of Control
A psychological concept referring to the extent to which individuals believe they have power over events in their lives, as opposed to external forces beyond their control.
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