Question

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Item 5

Item 5

Observations are taken on sales of a certain mountain bike in 24 sporting goods stores. The regression model was Y = total sales (thousands of dollars), X1 = display floor space (square meters), X2 = competitors' advertising expenditures (thousands of dollars), X3 = advertised price (dollars per unit).

(a)	Fill in the values in the table given here. (Negative values should be indicated by a minus sign. Leave no cells blank - be certain to enter "0" wherever required. Round your t-values to 3 decimal places and p-values to 4 decimal places.)

   

Predictor	Coefficient	SE	tcalc	p-value
Intercept	1,265.1	343.6
FloorSpace	11.455	1.54
Competing Ads	-6.453	3.908
Price	-0.14956	0.08880

Answer 1

t value = Coefficient / SE

eg: t value for Price = -0.14956/0.0888 = -1.684

degrees of freedom (df) = n-2 = 24-2 = 22

p-value = TDIST(abs(t value),df,2)

eg: p-value of Price = TDIST(1.684,22,2) = 0.1063

Hence, Completed Table:

Predictor	Coefficient	SE	tcalc	p-value
Intercept	1,265.10	343.6	3.682	0.0013
FloorSpace	11.455	1.54	7.438	0.0000
Competing Ads	-6.453	3.908	-1.651	0.1129
Price	-0.14956	0.0888	-1.684	0.1063

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