One of the leading treadmill manufacturers has estimated the following demand equation using data from 66 stores around the country: Q = + 250 - 4 P...

b. What would be the effect of a 6 unit increase in the competitor's advertising expenditures on Q?

What would be the change in your advertising expenditures to offset your competitor's strategy?

c. Conduct a t-test for the statistical significance of each variable. Discuss the results of the t-tests in light of the policy implications mentioned.

d.What proportion of the variation in sales is explained by the independent variables in the equation? How confident are you about this answer? Explain