Question

The following regression model has been proposed to predict sales at a computer store: y_hat =...

The following regression model has been proposed to predict sales at a computer store:

y_hat = 50 – 3x1 + 20x2 + 10x3

where

x1 = competitor's previous day's sales (in $1000s)

x2 = population within 1 mile (in 1000s)

x3 =  ​1 if any radio advertising was used and 0 otherwise.

y_hat= sales (in $1000s)

Predict the change in sales (in dollars) when radio advertising was used, all else constant.

This, is from question one if needed; Predict sales (in dollars) for a store with the competitor's previous day's sale of $5000, a population of 20,000 within 1 mile, and nine radio advertisements.

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
The following regression model has been proposed to predict sales at a gas station   where x1...
The following regression model has been proposed to predict sales at a gas station   where x1 = their previous day’s sales (in $1,000’s), x2 = population within 5 miles (in 1,000’s), x3 = 1 if any form of advertising was used, 0 if otherwise, and sales (in $1,000’s). Predict sales (in dollars) for a store with competitor's previous day's sale of $3,000, a population of 10,000 within 5 miles, and twenty radio advertisements.
1. Management of a fast-food chain proposed the following regression model to predict sales at outlets:...
1. Management of a fast-food chain proposed the following regression model to predict sales at outlets: y = β0 + β1x1 + β2x2 + β3x3 + ε, where y = sales ($1000s) x1= number of competitors within one mile x2= population (in 1000s) within one mile x3is 1 if a drive-up window is present, 0 otherwise The following estimated regression equation was developed after 20 outlets were surveyed: = 12.6 − 3.6x1+ 7.0x2+ 14.1x3 Use this equation to predict sales...
Management of a fast-food chain proposed the following regression model to predict sales at outlets: y...
Management of a fast-food chain proposed the following regression model to predict sales at outlets: y = β0 + β1x1 + β2x2 + β3x3 + ε, where y = sales ($1000s) x1= number of competitors within one mile x2= population (in 1000s) within one mile x3is 1 if a drive-up window is present, 0 otherwise Multiple regression analysis was performed on a random sample of data collected from 25 outlets. Given the following portion of an output of the regression...
A microcomputer manufacturer has developed a regression model relating his sales (Y in $10,000s) with three...
A microcomputer manufacturer has developed a regression model relating his sales (Y in $10,000s) with three independent variables. The three independent variables are price per unit (Price in $100s), advertising (ADV in $1,000s) and the number of product lines (Lines). Part of the regression results is shown below. Coefficient Standard Error Intercept 1.0211 22.8752 Price (X1) -.1523 -.1411 ADV (X2) .8849 .2886 Lines(X3) -.1463 1.5340 Source D.F. S.S. Regression 3 2708.651 Error 14 2840.51 Total 17 5549.12 (a) What has...
Using the model proposed by Lafley and Charan, analyze how Apigee was able to drive innovation....
Using the model proposed by Lafley and Charan, analyze how Apigee was able to drive innovation. case:    W17400 APIGEE: PEOPLE MANAGEMENT PRACTICES AND THE CHALLENGE OF GROWTH Ranjeet Nambudiri, S. Ramnarayan, and Catherine Xavier wrote this case solely to provide material for class discussion. The authors do not intend to illustrate either effective or ineffective handling of a managerial situation. The authors may have disguised certain names and other identifying information to protect confidentiality. This publication may not be...