The regression output below is based on the number of Internet Ads and Total Sales for a local business. Determine the predicted amount of Total Sales if the local business runs 25 Internet Ads. SUMMARY OUTPUT Regression Statistics Multiple R 0.8489 R Square 0.7206 Adjusted R Square 0.6648 Standard Error 55.4177 Observations 7 ANOVA df SS MS F Regression 1 39623.23 39623.23 12.902 Residual 5 15355.62 3071.125 Total 6 54978.86 Coefficients Std. Error t Stat P-value Intercept 26.32 51.0396 -0.51575 0.6280 Internet Ads 9.51 2.64882 3.591916 0.0157 121.42 404.31 197.86 264.07 216.52
Added by Perry J.
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From the output, we can see that the intercept is 26.32 and the coefficient for Internet Ads is 9.51. The regression equation is: Total Sales = Intercept + (Coefficient for Internet Ads * Number of Internet Ads) Now, we can plug in the given value of 25 Show more…
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A marketing analyst wants to examine the relationship between sales (in $1,000s) and advertising (in $100s) for firms in the food and beverage industry and collects monthly data for 25 firms. He estimates the model: Sales = ̠₀ + ̠₁ Advertising + ̠. The following ANOVA table shows a portion of the regression results. df SS MS F Regression 1 78.53 78.53 3.58 Residual 23 504.02 21.91 Total 24 582.55 Coefficients Standard Error t-stat p-value Intercept 40.1 14.08 2.848 0.0052 Advertising 2.88 1.52 -1.895 0.0608 Which of the following is the coefficient of determination?
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