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.Write the regression equation.
b.Interpret the coefficients of the estimated regression equation found in Part (a).
c.At =0.05, test for the significance of the coefficient of advertising.
d.At =0.05, test for the significance of the coefficient of number of salespeople.
e.If the company uses $50,000 in advertisement and has 800 salespersons, what are the expected sales? Give your answer in dollars.
Definitions:
Cognitive Learning
A form of learning that involves the use of mental processes and understanding to acquire knowledge and skills.
Operant Conditioning
A method of learning that occurs through rewards and punishments for behavior, emphasizing the consequences of actions.
Instrumental Conditioning
A learning process in which behavior is modified by the consequences of the behavior, reinforcing desired behaviors and discouraging undesired ones.
Classical Conditioning
A learning process identified by Ivan Pavlov that occurs through associations between an environmental stimulus and a naturally occurring stimulus.
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