Solution-Estimate a regression model that expresses sales

Estimate a regression model that expresses sales

Assignment Help Basic Statistics

Reference no: EM13245730

FUN WITH REGRESSIONS (or "Dining with Big Suzy") You have been retained by a regional food marketer, FoodKing, to forecast the demand for small cakes that are mass-produced and marketed under the name Big Suzy's Snack Cakes. To assist with your analysis, you are provided with data that was collected for 8 consecutive quarters and 6 geographic markets.

(a) Estimate a regression model that expresses sales as a function of price, income and competitor's price and population? Once you have estimates the regression model, (a) provide a clear interpretation of the "R2" and (b) the statistical significant of the overall regression. Be sure to explain if the overall regression is statistically significant at a 5% level and how you know that.

(b) Can you provide a clear, concise interpretation for the slope coefficient on price? Is that coefficient significantly different from zero? How do you know that?

Reference no: EM13245730

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Estimate a regression model that expresses sales

Reference no: EM13245730

Reference no: EM13245730

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