Question
1) A candy manufacturer collects data on 85 unique candies, hoping to figure out what makes some candies more popular than others. The dependent variable
1)A candy manufacturer collects data on 85 unique candies, hoping to figure out what makes some candies more popular than others. The dependent variable is win percentage (the percentage of times the candy wins in a head-to-head battle with other candies based on Internet surveys). He theorizes that the following factors (independent variables) explain a candy's win percentage:
Sugar Content: The amount of sugar in the candy (in grams)
Chocolate: assigned a value of 1 if the candy contains chocolate, 0 if it does not
Fruity: assigned a value of 1 if the candy is fruity, 0 if it is not
The regression equation and the table of regression coefficients are presented below: Candy Win Percentage = a + b1(Sugar Content) + b2(Chocolate) + b3(Fruity)
Variable
Coefficient
Sugar Content 0.5 Chocolate 20 Fruity 10 Intercept 35
a) Provide an interpretation of the coefficient of Sugar Content.
b) Provide an interpretation of the coefficient of Chocolate.
c) Provide an interpretation of the coefficient of Fruity.
d) The manufacturer realizes that his regression equation with only three independent
variables may be missing other important independent variables that can explain win percentage. Please discuss two more variables that could explain a candy's win percentage.
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