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Simple Linear Regression Analysis

See attached file.

The Zebra Wild Game Company sells exotic game to high end restaurants throughout Asia. The sales manager wants to determine what, if any, relationship exists between the pounds/week of game sold by 24 sales persons and the advertising dollars spent (in hundreds of dollars/week).

Attached is the Minitab regression output. The dependent variable is Sales (in ponds/week) and the independent variable Advertising (in hundreds of dollars/week).

Use the Minitab output to identify and interpret the p-values and the confidence interval for the regression coefficient.

p-value for the regression coefficient =
*Round answer to four decimal places.

Interpretation of the p-value:
A. This is the probability of correctly concluding that there is a relationship between sales and advertising expenditures.
B. This is the probability of being incorrect in concluding that there is a relationship in the population between sales and levels of advertising expenditures.
C. This is the probability that, in the population, each additional dollar of expenditure on advertising will result in an increase in sales.
D. This is the probability that if we take many sales persons, the mean sales will be between these values.
E. This value has no practical interpretation.

95% confidence interval for the regression coefficient: [ ] , [ ]
*Round answer to four decimal places.

A. this says we are 95% confident that, for the given expenditure of $200, for an individual sales person, their sales will be between these values.
B. This says we are 95% confident that, in the population, each additional degree of increase in sales will result in an increase of advertising expenditures between these values.
C. This says we are 95% confident that, in the population, each additional increase in advertising expenditure of $100 will result in an increase in sales between these values.
D. This says we are 95% confident that over many sales persons, the given advertising expenditure of $200 will result in mean sales between these values.
E. This confidence interval has no practical interpretation.

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Solution Summary

The solution identifies p-value and confidence interval for regression coefficient of a simple linear regression model from monitab output. Interpretations of the results are also provided.

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