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). Picture Click here for the Excel Data File (a) Fill in the values in the table given here (confidence level 99%). (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.) Predictor Coefficient SE tcalc p-value Intercept 1,225.4 397.3 FloorSpace 11.522 1.330 Competing Ads -6.935 3.905 Price -0.14955 0.08927 (b-1) What is the critical value of Student's t in Appendix D for a two-tailed test at ? = .01? (Round your answer to 3 decimal places.) t-value =

Obs Sales FloorSpace CompetingAds Price 1 1015 72.9 102.2 1146 2 903 56.6 99.6 1261 3 1293 80.4 107.1 1408 4 1479 93.4 110.1 729 5 1413 84.5 93.5 1227 6 1207 69.8 95.6 966 7 999 77.4 102.5 1400 8 1172 75.3 94.8 1277 9 1110 75.5 101.0 1137 10 1270 63.6 95.5 954 11 1448 84.5 100.0 856 12 1327 74.6 110.4 892 13 910 60.4 98.2 1024 14 455 8.2 86.1 1028 15 1052 48.6 86.3 1170 16 1125 49.6 94.7 984 17 915 57.4 96.5 1200 18 1079 48.5 90.6 1725 19 1493 102.1 89.6 1588 20 885 55.2 101.1 1298 21 1069 56.0 96.8 1359 22 1220 76.8 99.8 1469 23 1124 59.2 111.1 480 24 1043 49.0 94.0 1435 25 1369 78.5 99.7 823 26 1244 59.4 98.2 1274 27 1361 100.0 104.7 1165 28 1421 76.3 85.5 1054 29 782 41.8 92.5 860 30 1210 65.2 93.1 895

Explanation / Answer

The critical t score at 30-3-1=26 degrees of freedom for a two-tailed test will be +/-2.77871453 rounded to +/-2.779.

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