A consumer organization wants to develop a regression model to predict gasoline mileage (MPG) based on the horsepower of the car's engine and the weight of the car (in pounds). A sample of 50 recent car models was selected, with the results shown at left.
Q-12a: Write the multiple regression equation. (Use four decimals of precision.)
Q-12b: Interpret the meaning of the slope for horsepower in this model.
Q-12c: Interpret the meaning of the slope for weight in this model.
Q-12d: Predict the miles per gallon for a car that has 60 horsepower and weighs 2000 pounds. (Use one decimal of precision.)
A bicycle company wants to measure the effectiveness of different types of advertising media in the promotion of its new bicycle. Specifically, the company is interested in the effectiveness of radio advertising and newspaper advertising. A sample of 22 cities with approximately equal populations is selected for study during a test period of one month. Each city is allocated a specific expenditure level both for radio advertising and for newspaper advertising. The sales of the bicycle (in thousands of dollars) and also the levels of media expenditure (in thousands of dollars) during the test month are recorded.
Q-2a: State the multiple regression equation.
Q-2b: Interpret the meaning of the coefficients in the regression equation.
Q-2c: Interpret the meaning of the regression coefficient, b0.
Q-2d: Which type of advertising is more effective? Explain.
(See attached file.)
Complete, Neat and Step-by-step Solutions are provided in the attached file.