3.3 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) Determine the relationship between price and sales i.e. what is the effect of a unit change in price on sales and is it statistically significant? (b) Determine the relationship between advertising and sales i.e. what is the effect of a unit change in advertising on sales and is it statistically significant? (c) Determine the relationship between Holiday and sales i.e. what is the difference in sales between a holiday and a non-holiday and is it statistically significant? (c) Determine the relationship between Holiday and sales i.e. what is the difference in sales between a holiday and a non-holiday and is it statistically significant
3.3 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) Determine the relationship between price and sales i.e. what is the effect of a unit change in price on sales and is it statistically significant?
(b) Determine the relationship between advertising and sales i.e. what is the effect of a unit change in advertising on sales and is it statistically significant?
(c) Determine the relationship between Holiday and sales i.e. what is the difference in sales between a holiday and a non-holiday and is it statistically significant?
(c) Determine the relationship between Holiday and sales i.e. what is the difference in sales between a holiday and a non-holiday and is it statistically significant
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