Answer Happy

The following is the partial printout of problem "The Fresh Detergent Case": Enterprise Industries produces Fresh, a brand of liquid laundry detergent. In order to manage its inventory more effectively and make revenue projections, the company would like to better predict demand for Fresh. To develop a prediction model, the company has gathered data concerning demand for Fresh over the last 30 sales periods (each sales period is defined to be a four- week period). Here are the variables that will be in the model: Y= the demand for the large size bottle of Fresh (in hundreds of thousands of bottles) in the sales period. X1=the price (in dollars) of Fresh as offered by Enterprise Industries in the Sales period. X2-the average industry price in dollars) of competitors' similar detergents in the sales period. X3=Enterprise Industries' advertising expenditure (in hundreds of thousands of dollars) to promote Fresh in the sales periods. The figure below provides the output of the multiple regression model from the Excel:

SUMMARY OUTPUT 0.945 Regression Statistics Multiple R R Square Adjusted R Square Standard Error Observations 0.881 30 ANOVA df SS MS Significance F Regression Residual Total 1.432 13.459 Stat 3.104 P-value 0.005 Intercept Price IndPrice AdvExp Coefficients 7.589 -2.358 1.612 0.501 Standard Error 2.445 0.638 0.295 0.126 5.459 3.981 0.000 0.000

Question 8 1 pts Please use three decimal places. From the output provided, calculate the t ratio for the independent variable Price.[1] 0 -3.696 O 3.696 O 1.619 O -1.619

D Question 9 1 pts How many independent variables are significant factors for the demand? 01 O2 O 3 04 Question 10 1 pts From the output provided, does it appear that Price is a significant contributor to the variation in Demand? (Please use significance level at 0.05. Here you need to find the critical value by using the t table and answer the question). True False

Question 11 2 pts Please use three decimal places. In the Regression Statistics table, 1. What is the standard error? [Select] 2. What is R_square? (Select] (You can use percentage with one decimal place or use three decimal place without percentage to answer the question.)