A what is the estimated regression equation b determine if

Reference no: EM13617976

A company has recorded data on the weekly sales for its product (y), the unit price of the competitor's product (x₁), and advertising expenditures (x₂). The data resulting from a random sample of 7 weeks follows. Use SPSS or Excel's Regression Tool to answer the following questions.

Week	Price	Advertising	Sales
1	.33	5	20
2	.25	2	14
3	.44	7	22
4	.40	9	21
5	.35	4	16
6	.39	8	19
7	.29	9	15

a. What is the estimated regression equation?

b. Determine if price is significantly related to sales. Use a = 0.10.

c. Determine if advertising is significantly related to sales. Use a = 0.10.

d. Find and interpret the multiple coefficient of determination, R2.

Reference no: EM13617976

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