3. (Multiple Linear Regression, Week 13) Enterprise Industries wants to know how the Price of Fresh (Price) and the competitors' average price (CompPrice) jointly influence the sales of Fresh (Sales). That is, the company wants to estimate the following regression model: Sales = B. + B. Price + B2Comp Price + . Estimate this regression model in SPSS and answer the following questions below. 3-1) Copy and paste the regression result from SPSS and write the estimated regression model. To write the estimated regression model, you will need to find the estimated B's from the SPSS output and plug them into the regression equation. (5 points) 3-2) What is the average effect of Price on Sales? That is, if Enterprise Industries increases Fresh' price by one dollar, the sales of Fresh will increase by Fill the blank and explain how you derived the number. (5 points) 3-3) What is the average effect of Comp Price on Sales? That is, if competitors increase their price by one dollar, the sales of Fresh will increase by Fill the blank and explain how you derived the number. (5 points) Period 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 Sales 7.38 8.51 9.52 7.50 9.33 8.28 8.75 7.87 7.10 8.00 7.89 8.15 9.10 8.86 8.90 8.87 9.26 9.00 8.75 7.95 7.65 7.27 8.00 8.50 8.75 9.21 8.27 7.67 7.93 9.26 Price IndPrice 3.85 3.80 3.75 4.00 3.70 4.30 3.70 3.70 3.60 3.85 3.60 3.80 3.60 3.75 3.80 3.85 3.80 3.65 3.85 4.00 3.90 4.10 3.90 4.00 3.70 4.10 3.75 4.20 3.75 4.10 3.80 4.10 3.70 4.20 3.80 4.30 3.70 4.10 3.80 3.75 3.80 3.75 3.75 3.65 3.70 3.90 3.55 3.65 3.60 4.10 3.65 3.70 3.65 3.75 3.75 3.80 3.85 3.70 4.25 4.25 3. (Multiple Linear Regression, Week 13) Enterprise Industries wants to know how the Price of Fresh (Price) and the competitors' average price (CompPrice) jointly influence the sales of Fresh (Sales). That is, the company wants to estimate the following regression model: Sales = B. + B. Price + B2Comp Price + . Estimate this regression model in SPSS and answer the following questions below. 3-1) Copy and paste the regression result from SPSS and write the estimated regression model. To write the estimated regression model, you will need to find the estimated B's from the SPSS output and plug them into the regression equation. (5 points) 3-2) What is the average effect of Price on Sales? That is, if Enterprise Industries increases Fresh' price by one dollar, the sales of Fresh will increase by Fill the blank and explain how you derived the number. (5 points) 3-3) What is the average effect of Comp Price on Sales? That is, if competitors increase their price by one dollar, the sales of Fresh will increase by Fill the blank and explain how you derived the number. (5 points) Period 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 Sales 7.38 8.51 9.52 7.50 9.33 8.28 8.75 7.87 7.10 8.00 7.89 8.15 9.10 8.86 8.90 8.87 9.26 9.00 8.75 7.95 7.65 7.27 8.00 8.50 8.75 9.21 8.27 7.67 7.93 9.26 Price IndPrice 3.85 3.80 3.75 4.00 3.70 4.30 3.70 3.70 3.60 3.85 3.60 3.80 3.60 3.75 3.80 3.85 3.80 3.65 3.85 4.00 3.90 4.10 3.90 4.00 3.70 4.10 3.75 4.20 3.75 4.10 3.80 4.10 3.70 4.20 3.80 4.30 3.70 4.10 3.80 3.75 3.80 3.75 3.75 3.65 3.70 3.90 3.55 3.65 3.60 4.10 3.65 3.70 3.65 3.75 3.75 3.80 3.85 3.70 4.25 4.25
