# Question: A marketing research analysis considered how two customer characteristics affect

A marketing research analysis considered how two customer characteristics affect their customers’ stated desire for their product. Potential customers in a focus group were shown prototypes of a new convenience product and asked to indicate how much they would like to buy such a product. Scores were obtained on a 0 to 100 rating scale. The marketing group measured the age (in years) and income (in thousands of dollars, +0002. The following path diagram summarizes the estimates in the associated multiple regression.

(a) Does the path diagram provide enough information to compute the fitted values from the multiple regression?

(b) What is the sign of the marginal slope between age and product rating?

(c) Describe the ideal customer for this product, at least as indicated by the summarized model.

(a) Does the path diagram provide enough information to compute the fitted values from the multiple regression?

(b) What is the sign of the marginal slope between age and product rating?

(c) Describe the ideal customer for this product, at least as indicated by the summarized model.

## Answer to relevant Questions

The following correlation matrix shows the pairwise correlations among three variables: two explanatory variables X1 and X2 and the response denoted by Y. For example, corr(Y, X2) = 0.2359. (a) Why does it make sense to put ...This table gives further details of the multiple regression estimated in Exercise 31. Assume that the MRM satisfies the conditions for using this model for inference. (a) Fill in the t-statistics. (b) Estimate the p-values ...A manufacturer produces custom metal blanks that are used by its customers for computer- aided machining. The customer sends a design via computer, and the manufacturer comes up with an estimated cost per unit, which is then ...This data table tracks monthly performance of stock in Apple Computer since 1990. The data include 264 monthly returns on Apple Computer, as well as returns on the entire stock market, Treasury Bills (short-term, 30-day ...Regression models that describe macroeconomic properties in the United States often have to deal with large amounts of collinearity. For example, suppose we want to use as explanatory variables the disposable income and the ...Post your question