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.

  • CreatedJuly 14, 2015
  • Files Included
Post your question