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A regression model relating units sold (Y), price (X1), and whether or not promotion was used (X2 = ...

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A regression model relating units sold (Y), price (X1), and whether or not promotion was used (X2 = ...

A regression model relating units sold (Y), price (X₁), and whether or not promotion was used (X₂ = 1 if promotion was used and 0 if it was not) resulted in the following model.

and the following information is provided.

n= 15

S_b1 = .01

S_b2 = 0.1

a.	Is price a significant variable?
b.	Is promotion significant?

Textbook

Essentials of Statistics for Business and Economics

Edition: 7^th

Authors: Anderson, Sweeney, Williams, Camm, Cochran

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