The Brock Juice Company has developed a regression model relating sales (y in $10,000s) with four independent variables.The four independent variables are price per unit (x₁, in dollars), competitor's price (x₂, in dollars), advertising (x₃, in $1000s), and type of container used (x₄) (1 = Cans and 0 = Bottles).Part of the regression results is shown below: ANOVA
$\begin{array}{lll}\text { Source } & d f & S S \\\text { Regression } & 4 & 283,940.60 \\\text { Error (Residuals) } & 18 & 621,735.14\end{array}$
a.
Compute the multiple coefficient of determination and fully interpret its meaning.
b.
Is the regression model significant? Explain what your answer implies. Let α = .05.
c.
What has been the sample size for this analysis?

Question

The Brock Juice Company has developed a regression model relating sales (y in $10,000s) with four independent variables.The four independent variables are price per unit (x₁, in dollars), competitor's price (x₂, in dollars), advertising (x₃, in $1000s), and type of container used (x₄) (1 = Cans and 0 = Bottles).Part of the regression results is shown below: ANOVA

\begin{array}{lll}\text { Source } & d f & S S \\\text { Regression } & 4 & 283,940.60 \\\text { Error (Residuals) } & 18 & 621,735.14\end{array}

a.
Compute the multiple coefficient of determination and fully interpret its meaning.
b.
Is the regression model significant? Explain what your answer implies. Let α = .05.
c.
What has been the sample size for this analysis?

Quizplus · Accepted Answer

The Answer of The Brock Juice Company has developed a regression model relating sales (y in $10,000s) with four independent variables.The four independent variables are price per unit (x₁, in dollars), competitor's price (x₂, in dollars), advertising (x₃, in $1000s), and type of container used (x₄) (1 = Cans and 0 = Bottles).Part of the regression results is shown below: ANOVA $\begin{array}{lll} \text { Source } & d f & S S \ \text { Regression } & 4 & 283,940.60 \ \text { Error (Residuals) } & 18 & 621,735.14 \end{array}$ a. Compute the multiple coefficient of determination and fully interpret its meaning. b. Is the regression model significant? Explain what your answer implies. Let α = .05. c. What has been the sample size for this analysis?