a. Using the 30-week time series data in the table below, create a new Excel data file
Question:
a. Using the 30-week time series data in the table below, create a new Excel data file and do regression analysis on the data consisting of dependent variable Q and independent variables P, Px, A, and I.
Q = Detergent demand in cases; P = Price per case; Px = Competitor price; A = Advertising expenses; I = Household income.
Week | Q | P | Px | A | I | |||||||
1 | 1,290 | 137 | 94 | 814 | 53,123 | |||||||
2 | 1,177 | 147 | 81 | 896 | 51,749 | |||||||
3 | 1,155 | 149 | 89 | 852 | 49,881 | |||||||
4 | 1,299 | 117 | 92 | 854 | 43,589 | |||||||
5 | 1,166 | 135 | 86 | 810 | 42,799 | |||||||
6 | 1,186 | 143 | 79 | 768 | 55,565 | |||||||
7 | 1,293 | 113 | 91 | 978 | 37,959 | |||||||
8 | 1,322 | 111 | 82 | 821 | 47,196 | |||||||
9 | 1,338 | 109 | 81 | 843 | 50,163 | |||||||
10 | 1,160 | 129 | 82 | 849 | 39,080 | |||||||
11 | 1,293 | 124 | 91 | 797 | 43,263 | |||||||
12 | 1,413 | 117 | 76 | 988 | 51,291 | |||||||
13 | 1,299 | 106 | 90 | 914 | 38,343 | |||||||
14 | 1,238 | 135 | 88 | 913 | 39,473 | |||||||
15 | 1,467 | 117 | 99 | 867 | 51,501 | |||||||
16 | 1,089 | 147 | 76 | 785 | 37,809 | |||||||
17 | 1,203 | 124 | 83 | 817 | 41,471 | |||||||
18 | 1,474 | 103 | 98 | 846 | 46,663 | |||||||
19 | 1,235 | 140 | 78 | 768 | 55,839 | |||||||
20 | 1,367 | 115 | 83 | 856 | 47,438 | |||||||
21 | 1,310 | 119 | 76 | 771 | 54,348 | |||||||
22 | 1,331 | 138 | 100 | 947 | 45,066 | |||||||
23 | 1,293 | 122 | 90 | 831 | 44,166 | |||||||
24 | 1,437 | 105 | 86 | 905 | 55,380 | |||||||
25 | 1,165 | 145 | 96 | 996 | 38,656 | |||||||
26 | 1,328 | 138 | 97 | 929 | 46,084 | |||||||
27 | 1,515 | 116 | 97 | 1,000 | 52,249 | |||||||
28 | 1,223 | 148 | 84 | 951 | 50,855 | |||||||
29 | 1,293 | 134 | 88 | 848 | 54,546 | |||||||
30 | 1,215 | 127 | 87 | 891 | 38,085 | | | | | | | |
b. Show your regression output.
c. Build and present the regression model (long equation) to predict Q (dependent variable).
d. Interpret the coefficient estimate of each independent variable (i.e, when "A" increases by one unit, what changes occur in "Q"?).
Essentials of Business Analytics
ISBN: 978-1285187273
1st edition
Authors: Jeffrey Camm, James Cochran, Michael Fry, Jeffrey Ohlmann , David Anderson, Dennis Sweeney, Thomas Williams