A company wants to estimate how effective different types of advertising are for

    A company wants to estimate how
    effective different types of advertising are for promoting its products.
    Specifically the company is interested in estimating the effectiveness of
    radio advertising and newspaper advertising. A sample of 50 cities is selected
    for the study during a test period of one month. The populations of the
    selected cities are approximately the same. Each city is allocated a specific
    expenditure level for radio advertising and for newspaper advertising. Sales of
    the product (in thousands of dollars) and the levels of expenditure (in
    thousands of dollars) on both types of advertising are recorded during the test
    month. The collected data are given in the attached Excel spreadsheet ads1.xls
    (see the side menu bar of this PDF). a. Specify a suitable multiple
    regression equation for predicting sales. b. Use Excel to estimate the
    coefficients of the regression equation. c. Are the estimated slope
    coefficients statistically significant? Explain. d. Interpret the estimated
    slope coefficients. e. Predict the sales for a city in which radio
    advertising is $60000 and newspaper advertising is $60000
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