Statistics

USE graphs and word expressing to answer all the followings:
Report the summary statistics of the variables selected as determinants of success of a motor vehicle showroom. Briefly explain the distributions of these variables and what these tell you about the underlying data. (4 marks)
Represent the regression model you want to estimate and provide clear justification of your preferred estimation method of the model. (4 marks)
Report your estimated model and explain how PEOPLE, INCOME, COMPTORS and PRICE affect the dependent variable. (4 marks)
Which independent variable(s) significantly explain the dependent variable? Show your work. (4 marks)
Rewrite your estimated model with the coefficient estimates upto eight decimal points, wherever appropriate and as per your estimated regression output from excel. Now based on your estimated model, predict the gross annual revenue of a showroom of the company for the mean value of the variables PEOPLE, INCOME, COMPTORS and PRICE. What do you observe? (4 marks)
What is the coefficient of determination adjusted for degrees of freedom (R ̅^2)? What do this statistics tell you about the regression equation? (4 marks)
If the manager tells you to use a completely different set of variables that could potentially explain sales revenue, how would you defend your current selection of the variables? Clearly show all required steps involved in the process of justifying your inference. (6 marks)
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