Philco Pharmacy wishes to determine the relationship between advertising expense and sales revenue the following...
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Philco Pharmacy wishes to determine the relationship between advertising expense and sales revenue the following month. Philco ran an Excel regression analysis on 36 months of data and derived the Excel out below: 10 D SUMMARY OUTPUT Finis Regression Statistics Multiple R 0.8132067 R Square 0.6613052 Adjusted R Square 0.6513436 Standard Error 503027.26 Observations 36 ) ANOVA df SS MS F ignificance F 2 Regression 1 1.67979E+13 1.67979E+13 66.38535266 1.67E-09 3 Residual 34 8.60324E+12 2.53036E+11 Total 35 2.54012E+13 Coefficients Standard Error t Stat P-value Intercept -2618921 1183395.004 -2.213057494 0.033708295 3 Advertising Expens, 60.503654 7.425837938 ???? 1.67328E-09 Philco's advertising expenses have ranged from $138,000 per month to $180,000 per month since the company was started 3 years ago. Question #1 - Write down the regression model equation for the data supplied in good form. (2 marks)
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