Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

11.An automobile manufacturer has 20 franchised dealers in a large metropolitan area. To study factors influencing the amount of customer traffic, data were collected on

11.An automobile manufacturer has 20 franchised dealers in a large metropolitan area. To study factors influencing the amount of customer traffic, data were collected on customer traffic per week, the amount of newspaper and TV advertising by each dealer (shown in $100s), the size of their physical facilities (in acres), and the location of the dealership (Urban, Suburban or Rural).

Assume that the following data were collected. Remember that we are interested in explaining traffic using the other variables in the dataset (except for the Dealer number, which is just a label). Also remember that the data below may be different than the data from the previous question.

Dealer Advertising ($100s) Size (Acres) Location Traffic
1 1 1.3 Suburban 293
2 9 1.3 Rural 94
3 11 2.6 Urban 438
4 14 2.2 Suburban 437
5 22 1.8 Urban 437
6 24 1.7 Rural 299
7 25 2.2 Rural 298
8 29 1.6 Rural 247
9 29 2.2 Suburban 421
10 30 1.6 Suburban 392
11 31 2.1 Urban 388
12 39 1.6 Urban 537
13 40 1.9 Rural 371
14 45 1.9 Urban 406
15 49 2 Suburban 457
16 52 2.1 Rural 525
17 54 2.8 Urban 722
18 55 1.8 Urban 452
19 60 1.9 Urban 496
20 60 1.8 Suburban 529

Use Excel to create a regression model relating customer traffic to advertising, size of the facility and location. For location, use Suburban as the base case. What do you predict customer traffic to be for a Rural location with advertising of $28 hundred and a facility size of 2.7 acres?

Group of answer choices

429

540

509

83

442

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

From Calculus To Analysis

Authors: Steen Pedersen

1st Edition

3319136410, 9783319136417

More Books

Students also viewed these Mathematics questions