Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Statistics and Probability Expert

Interpreting the multiple regression analysis for the given MINITAB output

The district manager of Jasons, a large discount electronics chain, is investigating why certain stores in her region are performing better than others. She believes that 3 factors are related to total sales: the number of competitors in the region, the population in the surrounding area, and amount spent on advertising. From her district, consisting of several hundred stores, she selects a random sample of 30 stores. For each store she gathered the following information.

 

Y =

total sales last year (in $ thousands).

X1 =

number of competitors in the region.

X2 =

population of the region (in millions).

X3 =

advertising expense (in $ thousands).

 

The sample data were run on MINITAB, with the following results.

Analysis of variance

SOURCE

DF

SS

MS

Regression

3

3050.00

1016.67

Error

26

2200.00

84.62

Total

29

5250.00

Â

Predictor

Coef

StDev

t-ratio

Constant

14.00

7.00

2.00

X 1

-1.00

0.70

-1.43

X 2

30.00

5.20

5.77

X 3

0.20

0.08

 

 

a)    What are the estimated sales for the Bryne store, which has 4 competitors, a regional population of 0.4 (400,000), and advertising expense of 30 ($30,000)?

b)     find out the R2 value.

c)      find out the multiple standard error of estimate.

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M918087

Have any Question? 


Related Questions in Statistics and Probability

Describe the collapse of the soviet union begin with the

Describe the collapse of the Soviet Union. Begin with the events during the 1980s including the entire Gorbachev era. Should include at least the following topics: 1. Poland's democratic revolution of the 1980s 2. Gorbac ...

1 what value of cronbachamp39s alpha coefficient indicates

1. What value of Cronbach's alpha coefficient indicates acceptable interitem reliability? 2. Why are researchers sometimes not able to test the reliability of their measures? 3. What steps can be taken to increase th ...

Mouse parts produces mouse ears white gloves and other

Mouse Parts produces mouse ears, white gloves and other parts that are incorporated into the production of Mickey Mouse souvenirs. One of the components used in production has an annual demand of 250 units, and this is c ...

1 describe how structural equations modeling works2

1. Describe how structural equations modeling works. 2. Distinguish between latent variable modeling and path analysis as types of structural equations modeling.

Consumer reports provided extensive testing and ratings for

Consumer Reports provided extensive testing and ratings for more than 100 HDTVs. An overall score, based primarily on picture quality, was developed for each model. In general, a higher overall score indicates better per ...

A hospital emergency room analyzed n17665 hourly

A hospital emergency room analyzed n=17,665 hourly observations on its average occupancy rates using six binary predictor variables representing days of the week and two binary predictors representing the 8 hour work shi ...

An article in archaeometry involved an analysis of 48

An article in Archaeometry involved an analysis of 48 samples of Romano-Britishpottery, found at four different kiln sites in the United Kingdom. The samples were analyzed todetermine their chemical-composition. The perc ...

In a random sample of 10 reduced fat chocolate chip cookies

In a random sample of 10 reduced fat chocolate chip cookies, the sample mean for the number of chocolate chips was 17.6.  Regular chocolate chip cookies have a mean number of 20 chocolate chips.  The population standard ...

A spinoff of the anti-war and civil rights movements of the

A spinoff of the anti-war and civil rights movements of the 1960s that affected women was? increased desire to return to the security of homes and families decreased political involvement. the birth of the women's libera ...

Paper should be between 800 and 1000 words in length it is

Paper should be between 800 and 1,000 words in length. It is due according to the due date on the course calendar. 1. Drawing on the readings and lectures, name at least three developments or factors that encouraged the ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro