3. Give detailed explanations to the questions below. (30 pts.; 10 each) a. A member of a student playing an interactive

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3 Give Detailed Explanations To The Questions Below 30 Pts 10 Each A A Member Of A Student Playing An Interactive 1 (89.17 KiB) Viewed 131 times

3. Give detailed explanations to the questions below. (30 pts.; 10 each) a. A member of a student playing an interactive marketing game received the following computer output when studying the relation between advertising expenditures X and sales Y for one of the team's products. Estimated regression equation: Two-sided p-value for estimated slope: 0.91 The student stated: “The message I get here is that the more we spend on advertising this product, the fewer units we sell.” Comment. b. For conducting statistical tests concerning the parameter why is the t test more versatile than the F test? c. What is the difference between the critical value approach and the p-value approach in hypothesis testing? Explain. (Use visuals, as well.)