A regression analysis relating a company's sales, their advertising expenditure, price (per unit), and time (taken per unit production) resulted in the following output.
a.
Using α = .05, determine whether or not the regression model is significant. Fully explain how you arrived at your conclusion (give numerical reasoning) and what your answer indicates.
b.
At α = .05, determine which variables are significant and which are not. Explain how you arrived at your conclusion (give numerical reasoning).
c.
Fully explain the meaning of R Square, which is given in the above regression results. Be very specific and give numerical explanation.
Correct Answer:
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Significance F = .0000 < α = .05; the...
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