In order to determine whether or not the number of mobile phones sold per day (y) is related to...
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In order to determine whether or not the number of mobile phones sold per day (y) is related to price (x1 in $1,000), and the number of advertising spots (x2), data were gathered for 7 days. Part of the Excel output is shown below. ANOVA df SS MS F Regression 40.700 Residual 1.016 Coefficients Standard Error Intercept 0.8051 x1 0.4977 0.4617 x2 0.4733 0.0387 a. a. Develop an estimated regression equation relating y to x1 and x2. (2 marks) b. At a = 0.05, test to determine if the estimated equation developed in Part a represents a significant relationship between all the independent variables and the dependent variable. (2 marks) c. At a = 0.05, test to see if ß1 and ß2 is significantly different from zero. (2 marks) d. Interpret slope coefficient for X2. (2 marks) e. If the company charges $20,000 for each phone and uses 10 advertising spots, how many mobile phones would you expect them to sell in a day