1) The estimated regression equation predicts that for each additional $1 million in media expenditure, the case sales would increase by ______ million.
A 9.6
B 12.8
C 14.6
D 18.1
2) The regression model shows that on average observed values of Case Sales deviate from the predicted values (or from the regression line) by ______ million cases
A 145.1
B 135.2
C 126.5
D 118.3
3) The regression model indicates that ______% of variations in case sales is explained by media expenditure
A 95.7
B 92.6
C 86.4
D 82.4
4) To build a confidence interval for the slope coefficient b1 the standard error of b1, se(b1) is
A 3.22
B 2.89
C 1.99
D 1.26
5) To perform a test of hypothesis that the population slope parameter is zero, the test statistic t is
A 6.52
B 5.63
C 4.68
D 3.89
Use the following Excel regression output to answer the next 5 questions. The output shows the result of running a regression relating costs to production volume. Fill in the highlighted cells first.
Regression Statistics
Multiple R 0.9877
R Square
Adjusted R Square 0.9695
Standard Error
Observations 6
ANOVA
df SS MS F Signif F
Regression 1 160.07159 2.25E-04
Residual 184775
Total 5 7579083
Coefficients Std Error t Stat P-value Lower 95% Upper 95%
Intercept 617.662 428.31 1.442 0.2227 -571.51 1806.84
X Variable 1 8.755 0.0002
6) The percentage of the variations in cost explained by production volume is:
A 97.6%
B 93.0%
C 90.3%
D 87.7%
7) The predicted total cost when production volume is 1,000 is,
A 8,581
B 8,827
C 9,373
D 9,670
8) Given that the sum of the squared deviations of production volume is 96,470.83, the standard error of the slope coefficient is
A 1.280
B 1.084
C 0.888
D 0.692
9) The lower end of the 95% confidence interval for the slope coefficient is
A 5.16
B 6.83
C 8.98
D 9.49
10) The value of the t Stat for the slope coefficient is
A 12.65
B 10.17
C 7.69
D 5.21