The Zebra Wild Game Company sells exotic game to high end restaurants throughout the Far East. The sales manager wants to determine what, if any, relationship exists between the pounds of game sold by 24 sales persons and two independent variables, namely, the advertising dollars spent (in hundreds of thousands of dollars) and the market potential (in pounds).
Attached are the data and the multiple regression output.
Using the attached MegaStat output identify the standard error and interpret it.
Standard Error =
Round your answer to three decimal places.
Interpretation of the Standard Error:
A. This tells us how much the sales will increase for each increase of one hundred thousand dollars in advertising, holding constant the market potential.
B. This tells us the mean sales we should expect for any specific given advertising expenditure and market potential.
C. This tells us how much we should expect the advertising expenditures to drop for each increase in market potential of 200.
D. This value has no practical importance.
E. This tells us how much the observed sales can vary from the predicted values
Please make your selection: A, B, C, D, or E© BrainMass Inc. brainmass.com June 4, 2020, 1:04 am ad1c9bdddf
The Correct Answers are provided.