escYou may need to use the appropriate technology to answer this question.The following is part of the results of a regression analysis involving sales (y in millions of dollars), advertising expenditures (x, in thousands of dollars), and number of salespeople (x₂) for a corporation. The regressionwas performed on a sample of 10 observations.ConstantX1x2Ho:55°FHeavy sleet(a) Write the regression equation.HaCoefficients-11.320ŷ = -11.320+0.788x1 +0.151x20.78820.151=Standard Error(b) Interpret the coefficients of the estimated regression equation found in part (a). (Give your answers in dollars.)As advertising increases by 1 unit ($1,000), sales are expected to increase by $ 788to increase by $ 151X when advertising is held constant.(c) At a = 0.05, test for the significance of the coefficient of advertising.State the null and alternative hypotheses. (Enter != for # as needed.)B₁ = 0B₁!=0Find the value of the test statistic. (Round your answer to two decimal places.)2.61320.4520.302Find the p-value. (Round your answer to four decimal places.)p-value .0349State your conclusion.F4 --0.2184-Responses/submit/dep=30597856&tags=autosave#question4806908_11%5617&7fafoX when the number of salespeople is held constant. As the number of salespeople increases by 1, sales are expected8DIIf10DDI12 insertPAprt sc[backspacehomenumlockendF11:00 PM11/29/20227homepg up004 (d) At a = 0.05, test for the significance of the coefficient of number of salespeople.State the null and alternative hypotheses. (Enter != for # as needed.)B₂=0ß₂!= 0HoHaFind the value of the test statistic. (Round your answer to two decimal places.)69Find the p-value. (Round your answer to four decimal places.)p-value = .5097XState your conclusion.O Reject Ho. There is sufficient evidence to conclude that B₂ is significant.O Do not reject Ho. There is insufficient evidence to conclude that , is significant.O Reject Ho. There is insufficient evidence to conclude that is significant.O Do not reject Ho. There is sufficient evidence to conclude that B₂ is significant.(e) If the company uses $48,000 in advertisement and has 790 salespeople, what are the expected sales? Give your answer in dollars.$37931.97XNeed Help?Submit Answer55°FHeavy sleetRead It2hp□W

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Accepted Answer

Given that,
Dependent variable (y) = Sales
Independent variables:
x1 = Advertising expenditures
x2 =…