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A publishing company is attempting to develop a model to help predict textbook sales for books it is considering for future publication. The marketing department
A publishing company is attempting to develop a model to help predict textbook sales for books it is considering for future publication. The marketing department has collected data on several variables from a random sample of 15 books.
Book | Volume Sold (10000 bks) | Pages | Competing Books | Ad Budget ($1000) | Age of Author | |
1 | 15 | 176 | 5 | 25 | 49 | |
2 | 140 | 296 | 10 | 83 | 57 | |
3 | 75 | 483 | 7 | 40 | 29 | |
4 | 100 | 811 | 14 | 29 | 37 | |
5 | 26 | 302 | 9 | 52 | 35 | |
6 | 33 | 411 | 15 | 33 | 43 | |
7 | 59 | 333 | 7 | 19 | 51 | |
8 | 103 | 602 | 4 | 37 | 62 | |
9 | 88 | 504 | 12 | 51 | 33 | |
10 | 10 | 204 | 3 | 30 | 50 | |
11 | 9 | 376 | 4 | 19 | 26 | |
12 | 77 | 600 | 7 | 41 | 40 | |
13 | 59 | 400 | 3 | 26 | 44 | |
14 | 383 | 597 | 8 | 61 | 59 | |
15 | 16 | 126 | 1 | 27 | 38 |
- Additional data (Production Costs in $1000s and Number of Reviewers) are provided on tab: Question 2 continued. Run a best subsets and a stepwise regression using all six predictors. Select Include details for each step in Stepwise. Include your output from each. Based on best subsets, which model would you select and why?
Prodn Cost ($1000s) No reviewers 38 5 86 8 59 3 80 9 29.5 3 31 3 40 5 69 4 51 4 34 6 20 2 80 5 60 5 87 8 29 3
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