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5 June, 03:30

Selling price and amount spent advertising were entered into a multiple regression to determine what affects flat panel lcd tv sales. according to the output below, the calculated t-statistic to determine if amount spent on advertising is a significant independent variable in explaining sony bravia sales is dependent variable is sales predictor coef se coef t p constant 90.19 25.08 3.60 0.001 price - 0.03055 0.01005 - 3.04 0.005 advertising 3.0926 0.3680 8.40 0.000 select one:

a. - 3.04

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  1. 5 June, 04:22
    0
    Answer = 54

    Explanation:

    Predictor Coef SECoef T P

    Constant 90.19 25.08 3.60 0.001

    Price 0.03055 0.01005 - 3.04 0.005

    Advertising 3.0926 0.3680 8.40 0.000

    The required multiple regression model is:

    y = 90.19 - 0.03055 Price + 3.0926 Advertising

    The estimated value of y for Price = 2199 and Advertising = 10 is:

    y = 90.19-0.03055 x 2199+3.0926 x 10 = 53.94 ≈ 54

    So, the number of units sold on average at a store that sells the Sony Bravia for $2199 and spends 10% of its advertising budget on the product is ≈ 54
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