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3 Practice Questions

3 Practice Questions - BUAD 310 In-Class Practice The t...

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- 1 - BUAD 310 In-Class Practice 11/3/10 The t Table that we used in class is attached. A 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 selected some data consisting of daily grocery store sales ( Sales , response variable, in thousands of dollars) and advertising expenditures ( Advertising , explanatory variable, in thousands of dollars). Use the following Minitab output to answer questions 1-7 . Note that some of the output is missing. Predictor Coef SE Coef T P Constant 63.3333 7.9682 Advertising 6.6667 1.6667 S = R-Sq = R-Sq(adj) = Analysis of Variance Source DF SS MS F P Regression 1 0.0103 Residual Error 5 666.667 Total 6 2800.000 1. The value of the explained variation SSR is A) 666.667 B) 6.6667 C) 2133.333 D) 2800.000 E) 5 2. The value of the r -squared is 3. The value of s is
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- 2 - 4. The formula for a point prediction for the daily grocery store sales when the advertising expenditure is 10 thousand dollars is
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