A company has recorded data on the weekly sales for its product (y), the unit price of the competitor's product (x1), and advertising expenditures (x2). The data resulting from a random sample of 7 weeks follows. Use Excel's Regression Tool to answer the following questions (data set also provided in accompanying MS Excel file).
Weekly sales data | |||
Week | Price | Advertising | Sales |
1 | 0.33 | 5 | 20 |
2 | 0.25 | 2 | 14 |
3 | 0.44 | 7 | 22 |
4 | 0.4 | 9 | 21 |
5 | 0.35 | 4 | 16 |
6 | 0.39 | 8 | 19 |
7 | 0.29 | 9 | 15 |
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