3) Normality 4) Independence of the error term - Non-autocorrelation. Standard assumptions regarding the behavior of the error term 1) Mean of zero. Are the residuals well behaved? Check the standard assumptions regarding the behavior of the error term. Predict the mean weekly sales of cell phones if discount coupon was 20% and weekly competitor advertising expenditures were $2,000 per week. Calculate and interpret a 90% confidence interval on the individual regression slope coefficient on discount coupons. Which independent variables have a significant influence on weekly cell phone sales? 3.f. Test the significance of the individual regression slope coefficient on DiscountCoupon(%) at the. Are the signs of the regression slope coefficients as expected? Explain. Fully interpret the regression slope coefficients 3.d. Does the model have significant explanatory power? Test the significance of the overall regression at the. Fully interpret the coefficient of determination (R2) 3.b. Test the significance of the correlation coefficient between Sls(Numofphones) + and Discount Coupon(%) at the 01 level. Y-Number of cell phones sold per week X1 – Discount coupon offered (%) X2 - Advertising expenditures per week by a competitor in dollars) Analyze with the Questioning Process of Data Analysis What is the relationship between Y_Sis(Numofphones) and the independent variables? Analyze the Scatterplot - identify the four types of information. Weekly sales data are analyzed for the past 50 weeks. Transcribed image text: ALT-CAT 12.5 Multiple Regression Model - Cell Phones As the Manager of a cell phone service provider, you are interested in factors that influence sales of cell phones for your retail store.
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