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Cyco Cyco
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6 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 ($)   Advertising ($)   Holiday
500   100   50   Yes
480   120   40   Yes
485   110   45   No
510   103   55   Yes
490   108   40   No
488   109   30   No
496   106   45   Yes

A) Define the dummy variable(s) for the regression model.
B) What is the correlation between the Holiday categorical variable and sales?
Textbook 
Quantitative Analysis for Management

Quantitative Analysis for Management


Edition: 12th
Authors:
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#1
6 years ago
A) X3 = 1 if it is a holiday and 0 if not. B) 0.4670
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