The following regression model has been proposed to predict sales at a furniture store.
a.Fully interpret the meaning of the coefficient of X₃.
b.Predict sales (in dollars) for a store with competitor's previous day's sale of $3,000, a population of 10,000 within 1 mile, and six radio advertisements.

Question

The following regression model has been proposed to predict sales at a furniture store.

a.Fully interpret the meaning of the coefficient of X₃.
b.Predict sales (in dollars) for a store with competitor's previous day's sale of $3,000, a population of 10,000 within 1 mile, and six radio advertisements.

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The Answer of The following regression model has been proposed to predict sales at a furniture store. a.Fully interpret the meaning of the coefficient of X₃. b.Predict sales (in dollars) for a store with competitor's previous day's sale of $3,000, a population of 10,000 within 1 mile, and six radio advertisements.

The Following Regression Model Has Been Proposed to Predict Sales