Overview
Question
Sleep country spends money on three types of internet advertising. These are Facebook, Instagram and Tiktok ads. To determine which type is most effective, the manager collected 1 week’s data from 25 randomly selected stores. For each store, the following variables were recorded:
All variables were recorded in thousands of dollars.
A Run a multiple regression in excel with sales as the dependant variable, and the three types of advertising as your independent variables. Hand in a copy of your excel regression output, and write out the regression model equation and explain each coefficient.
B If you could only spend money on one type of advertising, which one would you choose and why.