Observations are taken on sales of a certain mountain bike in 30 sporting goods

Question

Observations are taken on sales of a certain mountain bike in 30 sporting goods stores. The regression model was Y= total sales (thousands of dollars), X1 = display floor space (square meters), X2- competitors' advertising expenditures (thousands of dollars), X3 = advertised price (dollars per unit) (a) Fill in the values in the table given here. (Negative values should be indicated by a minus sign. Leave no cells blank - be certain to enter "O" wherever required. Round your t-values to 3 decimal places and p-values to 4 decimal places.) Coefficient SE Predictor Intercept FloorSpace Competing Ads Price calc p-value 397.3 1.33 3.905 0.14955 0.08927 1,225.4 11.522 6.935 (b-1) What is the critical value of Students answer to 3 decimal places.) in Appendix D for a two-tailed test at = 0.01 ? (Round your t-value = (b-2) Choose the correct option OOnly Price differs significantly from zero Only CompetingAds differs significantly from zero Only FloorSpace differs significantly from zero

Explanation / Answer

for tcalc =estimate/std error

tehrefore from above :

b-1) critical value at 0.01 level t value =2.779

b-2)

only floor space differs significantly from 0.

predictor coefficient SE tcalc p value intercept 1225.4 397.3 3.084 0.0048 floor space 11.522 1.33 8.663 0.0000 competing -6.935 3.905 -1.776 0.0875 price -0.14955 0.08927 -1.675 0.1059

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