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## Statistics

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

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