The following results were obtained from a multiple regression analysis of supermarket profitability. The dependent variable, y, is the profit (in thousands of dollars) and the independent variables, x₁ and x₂, are the food sales and nonfood sales (also in thousands of dollars).
Coefficient of determination = 0.7139
a.Write the estimated regression equation for the relationship between the variables.
b.What can you say about the strength of this relationship?
c.Carry out a test of whether y is significantly related to the independent variables. Use a .01 level of significance.
d.Carry out a test of whether x₁ and y are significantly related. Use a .05 level of significance.
e.How many supermarkets are in the sample used here?

Question

The following results were obtained from a multiple regression analysis of supermarket profitability. The dependent variable, y, is the profit (in thousands of dollars) and the independent variables, x₁ and x₂, are the food sales and nonfood sales (also in thousands of dollars).

Coefficient of determination = 0.7139
a.Write the estimated regression equation for the relationship between the variables.
b.What can you say about the strength of this relationship?
c.Carry out a test of whether y is significantly related to the independent variables. Use a .01 level of significance.
d.Carry out a test of whether x₁ and y are significantly related. Use a .05 level of significance.
e.How many supermarkets are in the sample used here?

Quizplus · Accepted Answer

The Answer of The following results were obtained from a multiple regression analysis of supermarket profitability. The dependent variable, y, is the profit (in thousands of dollars) and the independent variables, x₁ and x₂, are the food sales and nonfood sales (also in thousands of dollars). Coefficient of determination = 0.7139 a.Write the estimated regression equation for the relationship between the variables. b.What can you say about the strength of this relationship? c.Carry out a test of whether y is significantly related to the independent variables. Use a .01 level of significance. d.Carry out a test of whether x₁ and y are significantly related. Use a .05 level of significance. e.How many supermarkets are in the sample used here?

The Following Results Were Obtained from a Multiple Regression Analysis