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Chapter 15 Practice Problems

Chapter 15 Practice Problems - the price per unit is \$3,000...

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Chapter 15: Practice Problems 1. A microcomputer manufacturer has developed a regression model relating his sales (Y in \$10,000s) with three independent variables. The three independent variables are price per unit (Price in \$100s), advertising (ADV in \$1,000s) and the number of product lines (Lines). Part of the regression results is shown below. Coefficient Standard Error Constant 1.0211 22.8752 Price -0.1524 0.1411 ADV 0.8849 0.2886 Lines -0.1463 1.5340 Analysis of Variance Source of Degrees Sum of Variation of Freedom Squares Regression 2708.61 Error (Residuals) 14 2840.51 a. Write the regression equation that can be used to predict sales. b. If the manufacturer has 10 product lines, advertising of \$40,000, and

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Unformatted text preview: the price per unit is \$3,000, what is your estimate of their sales? Give your answer in dollars . c. Compute the adjusted coefficient of determination. d. At α = 0.05, test to see if there is a significant relationship between sales and unit price. e. At α = 0.05, test to see if there is a significant relationship between sales and the number of product lines. f. At α = 0.05, test to determine if the fitted regression equation developed in Part (a) represents a significant relationship between the independent variables and the dependent variable....
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Chapter 15 Practice Problems - the price per unit is \$3,000...

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