Kurt’s Hardware Store) would like to investigate the effect of adding annual snowfall to the regression model. The table in includes the annual snowfall (in inches) for the past eight years.
(a) Develop a multiple regression model to predict the demand for snow blowers based on the advertising budget and the amount of snowfall.
(b) What percentage of the demand variation is explained by this expanded model?
(c) What is the predicted demand for snow blowers with an advertising budget of $2,600 and expected snowfall of 65 inches?