The manager of a prosperous bicycle shop is considering modifying prices on her line of Trek mountain bikes. She would like to identify products at the shop that are substitutes and complements of the Trek mountain bikes.
(a) Give an example of a product that the manager might plausibly hypothesize to be a substitute of the Trek mountain bikes and one which might plausibly be a complement.
(b) For one of the hypotheses that you give in Part (a), describe how multiple regression on past sales data could be used to test the hypothesis. Specify the DV and some reasonable IVs, and describe the type and amount of data that would be necessary to carry out this analysis.