Question

Sales 4589 Price 50 50 50 5080 5193 6352 3503 5430 4372 5635 50 60 60 60 60 70 Promotion 200 400 600 800 200 400 600 800 200 400 600 800 200 400 3831 70 3180 4605 4627 3020 3461 3550 4561 1431 4217 5147 5551 The data may be different from the previous question 70 70 80 80 80 80 90 600 800 200 400 90 90 90 600 800 Fit the regression model to the data and obtain the regression. Then use the regression output to complete the following coefficient table. Round the answers to 5 decimal places if possible 95% CI Lower Limit 95% CI Upper Limit Coefficient T P-value Constant Price Promotion

Answer 1

Answer Date: 31/07/2020 The regression equation of sales (y) on price and promotion (x's) is, By using Excel software, find regression equation with help of following steps: 1) Import the data. 2) Select Data Analysis from Data menu. 3) Select Regression and click Ok. 4) Input Y Range and Input X range. 5) Click Ok. Intercept Price Promotion Coefficients Standard Error Stat P-value Lower 95% Upper 95% 5203.70000 894.5730226 5.816965 2.06126E-05 3316.315919 7091.084081 -35.21000 11.45383387 -3.0740799 0.006875799 -59.3754769 -11.0445231 3.25550 0.724404059 4.4940389 0.000319802 1.727141045 4.783858955 From the Excel output, the regression equation of sales (y) on price and promotion (x's) is, û = Be + B. X + B x2 = 5203.70000 - 35.21000 x: +3.25550x2 =

The regression coefficient table from Excel output is, Intercept Price Promotion Coefficients Lower 95% CI Upper 95% CI 5203.70000 3316.31592 7091.08408 -35.21000 -59.37548 -11.04452 3.25550 1.72714 4.78386 т 5.81697 -3.07408 4.49404 P-value 0.00002 0.00688 0.00032