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chimeric chimeric
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Posts: 669
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4 years ago
An electronics company is looking to develop a regression model to predict the number of units sold for a special running watch. Data is provided below:

Sales (units)   Price ($)   Advertising ($)
500   100   50
480   120   40
485   110   45
510   103   55
490   108   40
488   109   30
496   106   45

Use model building to determine the best prediction equation for Sales, based on highest adjusted r2.
Textbook 

Quantitative Analysis for Management


Edition: 12th
Authors:
Read 31 times
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Replies
wrote...
4 years ago
Y = 578.87 - 0.10X1 + 50X2 where X1 = price and X2 = advertising. Adjusted r2 = 0.7268.
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