Sherri Cola Company has developed a regression model relating its sales (Y in $10,000s)with four independent variables.The four independent variables are price per unit (PRICE,in dollars),competitor's price (COMPRICE,in dollars),advertising (ADV,in $1,000s)and type of container used (CONTAIN;1 = Cans and 0 = Bottles).Part of the regression results is shown below.(Assume n = 25)

a.If the manufacturer uses can containers,his price is $1.25,advertising $200,000,and his competitor's price is $1.50,what is your estimate of his sales? Give your answer in dollars.
b.Test to see if there is a significant relationship between sales and unit price.Let $\alpha$= 0.05.
c.Test to see if there is a significant relationship between sales and advertising.Let $\alpha$ = 0.05.
d.Is the type of container a significant variable? Let $\alpha$ = 0.05.
e.Test to see if there is a significant relationship between sales and competitor's price.Let $\alpha$ = 0.05.

Question

Sherri Cola Company has developed a regression model relating its sales (Y in $10,000s)with four independent variables.The four independent variables are price per unit (PRICE,in dollars),competitor's price (COMPRICE,in dollars),advertising (ADV,in $1,000s)and type of container used (CONTAIN;1 = Cans and 0 = Bottles).Part of the regression results is shown below.(Assume n = 25)
  
a.If the manufacturer uses can containers,his price is $1.25,advertising $200,000,and his competitor's price is $1.50,what is your estimate of his sales? Give your answer in dollars.
b.Test to see if there is a significant relationship between sales and unit price.Let $\alpha$= 0.05.
c.Test to see if there is a significant relationship between sales and advertising.Let $\alpha$ = 0.05.
d.Is the type of container a significant variable? Let $\alpha$ = 0.05.
e.Test to see if there is a significant relationship between sales and competitor's price.Let $\alpha$ = 0.05.

Quizplus · Accepted Answer

The Answer of Sherri Cola Company has developed a regression model relating its sales (Y in $10,000s)with four independent variables.The four independent variables are price per unit (PRICE,in dollars),competitor's price (COMPRICE,in dollars),advertising (ADV,in $1,000s)and type of container used (CONTAIN;1 = Cans and 0 = Bottles).Part of the regression results is shown below.(Assume n = 25)
  
a.If the manufacturer uses can containers,his price is $1.25,advertising $200,000,and his competitor's price is $1.50,what is your estimate of his sales? Give your answer in dollars.
b.Test to see if there is a significant relationship between sales and unit price.Let $\alpha$= 0.05.
c.Test to see if there is a significant relationship between sales and advertising.Let $\alpha$ = 0.05.
d.Is the type of container a significant variable? Let $\alpha$ = 0.05.
e.Test to see if there is a significant relationship between sales and competitor's price.Let $\alpha$ = 0.05.

Sherri Cola Company Has Developed a Regression Model Relating Its α\alphaα

Sherri Cola Company Has Developed a Regression Model Relating Its $\alpha$