Question: Develop a multiple linear regression model in R to predict the demand for Fry s Burger. Use the following information as independent variables: - Weather:
Develop a multiple linear regression model in R to predict the demand for Frys Burger. Use the following information as independent variables:
Weather: precipitation, temperature, humidity
Price
Dummy variables representing various factors: festival presence, type of weekday, and city
London Waterloo, Toronto
Report two models applying the backward stepwise: Full model and Final model
For the backward stepwise regression process, follow these detailed steps:
Start with a full model: Begin by including all the listed independent variables in your regression model.
Significance testing: After fitting the full model, examine the pvalues of all the independent variables.
Remove the least significant variable: Identify the variable with the highest pvalue least Significant that is greater than the significance level. Remove this variable from your model.
Refit the model: with the identified variable removed, refit your regression model.
Iterate: Repeat steps Each time, remove the least significance variable and refit the model.
Continue this process until all remaining variables in the model are significance at the level.
Final model evaluation: Once you have your final set of significant variables, evaluate the
model by looking at the overall fit Rsquared value and the individual variable coefficients.
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
