Cascade Prescribed drugs Agency developed the following regression model, using time sequence data from the earlier 33 quarters, for one amongst its nonprescription chilly cures: Y=-1.04+Zero.24X1-Zero.27X2 the place Y=quarterly product sales (in lots of of cases) of the chilly remedy, X1=Cascade’s quarterly selling (*$1000) for the chilly remedy, X2 = rivals’ selling for associated merchandise (*$10,000) Proper right here is further information regarding the regression model: sb1=Zero.032, sb2=Zero.07, R2 =Zero.64, se=1.63, F-statistic=31.402, Durbin-Watson (d) statistic=.4995
a. Which of the unbiased variables (if any) appear like statistically very important (on the .05 stage) in explaining product sales of the chilly remedy?
b. What amount of the complete variation in product sales is outlined by the regression equation?
c. Perform an F-test (on the .05 stage) of the final explanatory power of the model.
d. How do the results in half (d) impact you options to parts (a), (b), and (c)?
e. What further statistical information (if any) would you uncover useful throughout the evaluation of this model? Economics homework help