Bookstore Physical stores face increasing competition from online rivals. To compete, a campus bookstore collected data on
Question:
(a) What patterns are apparent in the timeplot of Trade Sales?
(b) The store manager built a regression model with Trade Sales as the response, using Week, Total Sales, Shelf Space, and Titles as explanatory variables. What would you recommend to improve this model? (Hint: Some claim that the typical amount of space per book is more important than the quantity of books.)
(c) If the manager uses this model to evaluate a new display for trade books in the next few weeks, would you expect the model to give a fair evaluation of the new display? Why? (Hint: Look at the timeplot of the residuals.)
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Statistics For Business Decision Making And Analysis
ISBN: 9780321890269
2nd Edition
Authors: Robert Stine, Dean Foster
Question Posted: