Help please! (1 Viewer)

[utsstudent12]

How do I use excel and a regression equation to predict this...

g) Estimate the mean weekly gross sales for all stores that spend $800 on direct mailing, $1200 on newspaper advertisements and $2000 on television commercials.

 

[InteGrand]

How do I use excel and a regression equation to predict this...

g) Estimate the mean weekly gross sales for all stores that spend $800 on direct mailing, $1200 on newspaper advertisements and $2000 on television commercials.

Pretty sure we need some more information to be able to do this. Maybe post earlier parts, if they had some important info?

 

[utsstudent12]

Hiya! So this is the previous info:

Dependent variable (y): weekly gross sales.
Independent variable one (x1): weekly expenditure on direct mailing.
Independent variable two (x2): weekly expenditure on newspaper advertising.
Independent variable three (x3): weekly expenditure on television commercials.

As such, the multiple regression equation is as follows:

Sales (y) = y-intercept (B17/12.3089) + direct mailing coefficient (B18/0.59874)(x1) + newspaper advertising coefficient (B19/3.320019)(x2) + television commercials coefficient (B20/0.732178)(x3).



There are 25 observations in total!

 

[InteGrand]

Hiya! So this is the previous info:

Dependent variable (y): weekly gross sales.
Independent variable one (x1): weekly expenditure on direct mailing.
Independent variable two (x2): weekly expenditure on newspaper advertising.
Independent variable three (x3): weekly expenditure on television commercials.

As such, the multiple regression equation is as follows:

Sales (y) = y-intercept (B17/12.3089) + direct mailing coefficient (B18/0.59874)(x1) + newspaper advertising coefficient (B19/3.320019)(x2) + television commercials coefficient (B20/0.732178)(x3).



There are 25 observations in total!

So basically, you need an equation of the form , right?

And I assume you have some data sets, probably 25 sets of data of the form , where each is as you've defined it and is the weekly gross sales observed for a given set of 's.

I think this website explains how to do what you're looking for in Excel: http://smallbusiness.chron.com/run-multivariate-regression-excel-42353.html

 

[waterlml]

So basically, you need an equation of the form , right?

And I assume you have some data sets, probably 25 sets of data of the form , where each is as you've defined it and is the weekly gross sales observed for a given set of 's.

I think this website explains how to do what you're looking for in Excel: http://smallbusiness.chron.com/run-multivariate-regression-excel-42353.html

i'm doing the same question can you please help ??

data set:
Sales Direct Newspaper Television
15.98 1.05 1.35 1.55
21.59 1.29 2.25 1.97
25.47 0.96 1.79 1.64
16.02 1.51 1.73 1.73
16.58 1.30 1.71 1.61
20.10 1.06 1.61 1.82
17.49 0.86 1.62 1.97
22.53 0.78 2.20 1.61
23.98 1.20 1.77 1.13
18.96 0.83 1.17 1.77
24.64 1.01 1.76 2.04
19.52 1.34 1.81 1.63
19.97 0.55 2.25 1.93
18.86 1.06 1.98 1.63
22.79 0.90 1.54 2.27
20.38 1.88 1.15 1.45
16.51 0.51 1.19 1.93
18.32 0.53 1.75 1.44
16.04 1.21 1.01 1.46
18.91 0.90 1.68 1.66
20.09 0.97 1.72 1.59
19.83 1.01 1.72 1.42
18.42 1.29 1.47 2.05
21.99 1.35 1.94 2.28
20.57 1.07 2.31 1.77

 

[liamcl]

Hey guys, friends and I are having a ton of trouble with this question as well...
Anyone got an idea on how to do it?

 

[InteGrand]

Hey guys, friends and I are having a ton of trouble with this question as well...
Anyone got an idea on how to do it?

What's your main trouble? Do you know what needs to be done, but just aren't sure how to do it on Excel?

 

[liamcl]

There are 2 questions which I feel are extremely similar, but have slightly different answers (in the back of the book, whether or not that is right could be a whole different story).

With the data sets provided by waterlml, you must answer these 2 questions.

f)Predict next week's gross sales if a local store spent $800 on direct mailing, $120 on newspaper advertisements and $2000 on television commericals.

g) Estimate the mean weekly gross sales for all stores that spend $800 on direct mailing, $1200 on newspaper advertising and $2000 on television commercials.

For f), it is as simple as putting the spending values in to the equation, bringing me to the correct answer in the back of the book, 18.213 ('000). However with g), the answer is different 18.218 ('000). My friends and I just can't quite understand what question g) is asking us to do.

Cheers.