Estimating the regression equation

Assignment Help Basic Statistics

Reference no: EM1320872

You have been provided with the following regression output. The dependent variable is unit sales of a product, and the independent variable is the dollar value of newspaper advertising for that product. The unit of analysis is weeks; that is, each of the observations in the underlying sample data represents a separate week of sales and newspaper advertising.

Regression Analysis: Sales versus Newspaper

The regression equation is
Sales = 6514 + 0.0386 Newspaper

Predictors	Co-eff	SECo-eff	T	P
Constant	6514	1138	5.72	0.000
Newspaper	0.038625	0.005494	7.03	0.00

S = 5630.70 R-Sq = 24.3% R-Sq(adj) = 23.8%

Analysis of Variance

Source	D F	S	M S	F	P
Regression	1	1567134272	1567134272	49.43	0.000
Residual Error	154	4882532724	31704758
Total	155	6449666996

1. How much of the variability has been explained?

2. Is there a relationship between sales and newspaper advertising? Support your answer?

3. What does the constant coefficient 6514 mean?

Reference no: EM1320872

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