Statistical Analysis - Coefficient on MKTSHR and BONUS - Statistics Assignment Help

Assignment Task :

Problem 1
Meddicorp Company sells medical supplies to hospitals, clinics, and doctors’ offices. The company currently markets in three regions of the United States: the South, the West, and the Midwest. These regions are each divided into many smaller sales territories.
Meddicorp’s management is concerned with the effectiveness of a new bonus program. This program is overseen by regional sales managers and provides bonuses to salespeople based on performance. Management wants to know if the bonuses paid last year were related to sales. (Obviously, if there is a relationship, the managers expect it to be positive).
In determining whether this relationship exists, they also want to take into account the effects of market share and the region of operation.

Estimate a regression model using SALES as the response variable and the variables BONUS, MKTSHR and REGION [create indicator variables (dummy
variables) for the categorical variable REGION using the value Midwest as the reference category].

(a) Write down your estimated regression equation.

(b) Write down and interpret the coefficient on MKTSHR and BONUS. Does the bonus program affect sales?

(c) Note that the variable MKTSHR does not seem to significantly impact sales (the corresponding p-value is large).

(d) Write down and interpret the coefficients on the two dummy variables that you have used.

(e) Write down and interpret the estimated intercept.

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