Kramer Smith owns a dry-cleaning service and is thinking about changing his advertising expenditures for the year ...

        Kramer Smith owns a dry-cleaning service and is thinking about   changing his advertising expenditures for the year. He hires you as a   consultant to determine the relationship between sales, consumer incomes, and   advertising by means of multiple regression analysis.   Smith has   gathered the sales, income, and advertising data for the last year, as shown   in Table 1.   The Sales   and Advertising Data (2009) Table 1    Month Sales (y) Advertising (x1) Consumer Income (x2)   January 43,000 10,000 41,000   February 40,500 9,000 43,000   March 41,000 11,000 45,000   April 45,900 12,000 47,000   May 47,000 11,000 49,000   June 51,000 12,000 51,000   July 54,000 13,000 53,000   August 57,000 13,000 55,000   September 56,000 14,000 57,000   October 60,000 15,000 58,000   November 61,000 15,800 59,000   December 63,000 16,700 61,000         Using   multiple regression, conduct an analysis of the firm’s sales revenue,   consumer incomes, and advertising. Describe how you would explain your   results to Smith and what recommendations you would suggest. Summarize your   recommendations or advice to Smith concerning the relationship between sales,   income, and advertising.