The Natural Drink 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

The Natural Drink 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 The Natural Drink 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.

The Natural Drink Company Has Developed a Regression Model Relating α\alphaα

The Natural Drink Company Has Developed a Regression Model Relating $\alpha$