Estimating the regression equation.
You have been provided with the following regression output. The dependent variable is unit sales of a product, and the independent variable is the dollar value of newspaper advertising for that product. The unit of analysis is weeks; that is, each of the observations in the underlying sample data represents a separate week of sales and newspaper advertising.
Regression Analysis: Sales versus Newspaper
The regression equation is
Sales = 6514 + 0.0386 Newspaper
Predictors

Coeff

SECoeff

T

P

Constant

6514

1138

5.72

0.000

Newspaper

0.038625

0.005494

7.03

0.00

S = 5630.70 RSq = 24.3% RSq(adj) = 23.8%
Analysis of Variance
Source

D F

S

M S

F

P

Regression

1

1567134272

1567134272

49.43

0.000

Residual Error

154

4882532724

31704758



Total

155

6449666996




1. How much of the variability has been describeed?
2. Is there a relationship between sales and newspaper advertising? Maintain your answer?
3. What does the constant coefficient 6514 mean?