Enterprise Industries produces household products including Fresh brand liquid l

Question

Enterprise Industries produces household products including Fresh brand liquid laundry detergent. Enterprise has recent tly tried three different advertising campaigns designated as A (television commercials). B (mitu re of radio and TV), and C (mixture of radio. TV, and print media ads). They have developed a model to predict Fresh sales and would like to determine the effectiveness of the advertising campaigns. Other variables considered for their sales prediction model include Price price charged for Fresh detergent nd Price ndustry average price of liquid detergent AdExp Advertising expenditures DA and DB are dummy variables used to capture the effect of the advertising campaigns. The following printout gives the result of a mu ltiple regression with a curvilinear response to AdExp SUMMARY OUTPUT Regression Statistics Multiple R 0.9433 R Square 0.8898 Adjusted R Sq 0.8669 uare Standard Error Observations 0.2485 30

Explanation / Answer

Is this model, as a whole , significant at 1% level?

Yes , because p-value = 0.0004 < 0.01.

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