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:
Neurotic Trends
Patterns of thought, behavior, or emotion that are indicative of an unresolved inner conflict and tend to cause significant anxiety or distress.
Horney
A psychoanalytic theorist, Karen Horney focused on social and cultural factors influencing personality, introducing concepts like basic anxiety and neurotic needs.
Openness To Experience
One of the five major personality traits in the Big Five personality traits model, indicating how open-minded, creative, and willing to try new things an individual is.
Agreeableness
A personality trait characterized by warmth, kindness, empathy, and a willingness to cooperate and maintain harmonious relationships.
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