Question: The owner of the Original Italian Pizza restaurant chain wants
The owner of the Original Italian Pizza restaurant chain wants to understand which variable most strongly influences the sales of his specialty deep-dish pizza. He has gathered data on the monthly sales of deep-dish pizzas at his restaurants and observations on other potentially relevant variables for each of his 15 outlets in central Indiana. These data are provided in the file P10_04.xlsx. Estimate a simple linear regression equation between the quantity sold (Y) and each of the following candidates for the best explanatory variable: average price of deep-dish pizzas, monthly advertising expenditures, and disposable income per household in the areas surrounding the outlets. Which variable is most strongly associated with the number of pizzas sold? Explain your choice.
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