I run a molding company and ran a regression analysis of monthly sales looking at monthly sales of prototype parts, travel expenses and advertising expenses. I want to see if any of these variables effect molding sales or help predict molding sales. N = 30.
Any help with reading the results, main findings, what in the heck is this telling me?
You are using Ordinary Least Square (OLS) regression method to estimate the monthly sales of the prototype part.
The regression estimates shows the marginal effect of each explanatory variable on the sales.
Coefficients Standard Error t Stat P-value
Intercept 96510.45341 19154.82406 5.038441131 3.03645E-05
Monthly Travel Expenditure (P) 13.4427635 6.329864763 2.123704693 0.043371117
Monthly Marketing Expeditures (A) 1.647841749 4.649177807 0.35443724 0.725869852
Monthly RP Sales (M) 0.375140292 0.941173956 0.398587625 0.693451667
From the regression report table, we find that the coefficient of Monthly Travel Expenditure is 13.44, which means that if the expenditure is increased by $1, the monthly sales ...