Jones&Johnson is a supermarket selling locally sourced organic vegetables and meat products. The manager of Jones & John

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Jones Johnson Is A Supermarket Selling Locally Sourced Organic Vegetables And Meat Products The Manager Of Jones John 1 (44.35 KiB) Viewed 95 times

Jones Johnson Is A Supermarket Selling Locally Sourced Organic Vegetables And Meat Products The Manager Of Jones John 2 (30.54 KiB) Viewed 95 times

Jones&Johnson is a supermarket selling locally sourced organic vegetables and meat products. The manager of Jones & Johnson is interested in how investment in advertising helps with boosting its sales. The manager collected a random sample of quarterly sales (in 100.000 dollars) with the amount of investment in TV advertising (in 10,000 dollars), newspaper advertising (in 10,000 dollars) and the average price change in that quarter (in dollars). The average price change is measured as the difference between the average price of its products in one quarter and that in a previous quarter. The manager ran a regression of quarterly sales on the other variables and she obtained the following output Agron Shoes Muller 767323987 R Square a583786025 Adjusted R Square 0:527103 Standard Emer LSC037175 Observations ANOVA of F Significance 9.5454931 0.000006657 Regression Residual Total SS MS 97.080994191 32 35366-197 67.78835757 3.399417878 164 8093525 3 20 23 Intercept TV ads Newspaper ads Price change Coefents Standard Error Stat P-value Lower 95 Upper: 95 2993475306 0397989613 6516456051 237086E-06 1 763285607 3.422668005 2 1958 594 0.76.198.3917 2.80954686 0.009467357 05973887393.77030061 0 601051839 0278000138 2.188709713 0.000652234 0028358014 1.179811663 0408291153 23.8914068-1208945633 0.10293438 0.906657166 08007486 What does the Newspaper ads coefficient 0.6041 represent? If the criterion for a successful ad is that it returns more than it costs, is it worth spending money on newspaper ads?

Interior TV ads Nouspaper acts Price change Son mor 0397 651G-SEOST 2. SEE OG 2. a 251 2.2 006715 U19 30GI GOS DO 2007 0.012214 01153 023910600561 10093 OCESE OROM What does the Newspaper ads coefficient 0.6041 represent? If the criterion for a successful ad is that it returns more than it costs, is it worth spending money on newspaper ads? It is the amount of extra sales when the Newspaper ad expenditure rises by one unit ($10,000), namely sales increase by $60.408 for every $10,000 increase (or. $6.41 for every dallar spent on Newspaper ads) It is worth spending the money on these ads. O None of the other answers are correct It is the amount of extra sales when the Newspaper ad expenditure rises by one unit ($10,000), namely sales increase by $6,040 for every $10,000 increase (or, 64 cents for every dollar spent on Newspaper ads). It is not worth spending the money on these ads. It is the proportion of variation in sales explained by newspaper ads (60%).