The Chen family went shopping for a car before the holidays. The salesperson from the dealership gave the Family the information for the car they were interested in buying the list price of the car was $31,525. The special holiday sale discounted the car by 12%. The sales tax rate was 8.875%. In order to buy the car, Mr. Chen had to borrow money from the bank and decided to take out a loan l. He was approved for $30,000 loan to use for the purchase of the car. What is this loan amount cover the final cost of the car.

1. the manager of collins import autos believes the number of cars sold in a day (q) depends on two factors: (1) the number of hours the dealership is open (h) and (2) the number of salespersons working that day (s). after collecting data for two months (53 days), the manager estimates the following log-linear model: q 4 equation 1 a. explain, how to transform the log-linear model into linear form that can be estimated using multiple regression analysis. the computer output for the multiple regression analysis is shown below: q4 table b. how do you interpret coefficients b and c? if the dealership increases the number of salespersons by 20%, what will be the percentage increase in daily sales? c. test the overall model for statistical significance at the 5% significance level. d. what percent of the total variation in daily auto sales is explained by this equation? what could you suggest to increase this percentage? e. test the intercept for statistical significance at the 5% level of significance. if h and s both equal 0, are sales expected to be 0? explain why or why not? f. test the estimated coefficient b for statistical significance. if the dealership decreases its hours of operation by 10%, what is the expected impact on daily sales?