Chapter 1:2 Exhibit 12-4 Regression analysis was applied between sales data (Y i

Question

Chapter 1:2 Exhibit 12-4 Regression analysis was applied between sales data (Y in $1,000s) and advertising data (x in S100s) and the following information was obtained Y 12 1.8 x SSR- 225 SSE- 75 Sb1 = 0.2683 1. Refer to Exhibit 12-4. Based on the above estimated regression equation, if advertising is S3,000, then the point estimate for sales (in dollars) is a. $66,000 b. $5,41:2 d. d. $17,400 2. Refer to Exhibit 12-4. The F statistic computed from the above data is b. 45 d. 50 3. Refer to Exhibit 12-4. To perform an F test, the p-value is a. less than .01 b. between 01 and .025 c. between .025 and .0S d. between .05 and 0.1 Refer to Exhibit 12-4. The t statistic for testing the significance of the slope is a. 1.80 b. 1.96 c. 6.708 d. 0.555 4.

Explanation / Answer

Q1) Predicted sales = 12+1.8*30 = 66

So, Correct Option is A. It will be $66000

Q2) MSR = 225/1 = 225

MSE = 75/15 = 5

F = 225/5 = 45

Correct Option is B

Q3) less than 0.01

Correct Option is A

Q4)Test statistic = (1.8)/0.2683=6.708

Correct Option is C

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