In order to understand the relationship between its monthly sales of a product and its advertising spending on three different platforms: TV, radio and online a firm has collected data for the past 3 months, including the monthly sales volume and the advertising spending on each platform. Based on this data, they want to develop a multiple regression model to predict monthly sales using advertising spending on all three platforms as independent variables. Given the following data; Monthly sales volume (Y) in units: January: 6 units, February: 14 units, March: 24 units Advertising spending on different platforms (X): • TV spending (in thousands of dollars): January: $15 February: $20 March: $14 • Radio spending (in thousands of dollars): January: $3 February: $4 March: $5 • Online spending (in thousands of dollars): January: $15, February: $12, March: $18 Perform multiple regression analysis to derive an equation used to predict the total monthly sales based on advertising spending on TV, radio, and online platforms.



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