Answered step by step
Verified Expert Solution
Question
1 Approved Answer
DV = sales ($,000), IV = days_open, staff, parking, pop. (,000), competitors, university, promos Based on the regression you've already run (described above), what sales
DV = sales ($,000), IV = days_open, staff, parking, pop. (,000), competitors, university, promos
Based on the regression you've already run (described above), what sales would you expect from a store with the following characteristics? (round your answer to 1 decimal point)
- days_open = 501
- staff = 13
- parking = 16
- pop. (,000) = 156
- competitors = 1
- university = 0
- promos = 1
Hints:
- Include ALL predictors ( regardless of statistical significance)
- Include the intercept in your prediction (regardless of statistical significance)
- Remember to use the same units -- for instance, if you think the answer is "$127,000" you should only enter "127" because the sales data is already coded in $,000 units. Frankly, if you just use the above values and the coefficients from your regression, the result will already be in the correct units (i.e., you will get "127" if the real answer is "$127,000"), and you can enter that result below.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started