Observations are taken on sales of a certain mountain bike in 25 sporting goods

Question

Observations are taken on sales of a certain mountain bike in 25 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).

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 "0" wherever required. Round your t-values to 3 decimal places and p-values to 4 decimal places.)

   

  

What is the critical value of Student's t in Appendix D for a two-tailed test at = 0.01? (Round your answer to 3 decimal places.)

     

Observations are taken on sales of a certain mountain bike in 25 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).

Explanation / Answer

a)

Y = 1268.7 + 11.592 X1 – 6.878 X2 -0.14472 X3

t = bj/SE bj

df = n – no. of parameters = 25 – 4 = 21

0.1058

b) t-value = 2.831 for df = 21

Predictor Coefficient SE tcalc p-value Intercept 1,268.7     354.1 3.583 0.001753 Floor Space 11.592     1.13 10.258 < .00001 = 0 Competing Ads -6.878     3.967 -1.734 0.09758 Price -0.14472     0.08562 -1.69

0.1058

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