You’re given the job of identifying the market share of a product in various markets. You determine the market share ranges between 51.28% and 61.08%. You try to estimate the factors influencing market share using the regression in Fig. 10.19:

(a) Derive the regression function in algebraic form from the above table.
(b) Determine R² and the adjusted R².
(c) How large is the residual sum of squares?
(d) Does the model have an explanatory value for determining market share?
(e) What’s a reasonable way to improve the model?
(f) What happens when the product price is raised by one monetary unit?

Figure 10.19

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Model 1 Model 1 Regression Residual Total Model (Constant) 1 price R ??? In(price) R Square ??? Model Summary Adjusted R Square ??? Sum of Squares 124.265 ??? 134.481 ANOVAª df 2 24 26 Std. Error of the Estimate .652 Mean Square ??? ??? Unstandardized Coefficients B 38.172 -7.171 .141 Std. Error 1.222 .571 .670 F 145.971 t 31.24 -12.56 -0.21 Sig. .000 Sig. .000 .000 .835