02 May The managing partner of an advertising agen
The managing partner of an advertising agency
Question 1: The managing partner of an advertising agency believes that his company’s sales are related to the industry sales. He uses Microsoft Excel’s Data Analysis tool to analyze the last 4 years of quarterly data (i.e., n = 60) with the following results:
Regression Statistics
Multiple R 0.946
R Square 0.895
Adjusted R Square 0.893
Standard Error SYX 0.9995
Observations 60
ANOVA
df SS MS F Sig.F
Regression 1 493.988 493.988 494.466 0.000
Error 58 57.944 0.999
Total 59 551.932
PredictorCoefStdErrort StatP-value
Intercept -7.7962 1.1549 -6.75 0.001
Industry 7.8742 0.3541 22.2 0.000
a) What is the value of the quantity that the least squares regression line minimizes? Explain your answer.
b) What is the prediction of Y for a quarter in which X = 100? Show how you obtain your answer.
c) What is the value for the coefficient of determination?
d) What does the coefficient of determination tell you?
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