on the basis of the following data the marketing manager wants to predict the sales volume for
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Question:
on the basis of the following data the marketing manager wants to predict the sales volume for the locality on the basis of # households, a number of cars and marketing expense
Sl.No. | Sales Volume | #Households | number of cars | marketing expense |
1 | 15727 | 161 | 3 | 180 |
2 | 9328 | 99 | 1 | 150 |
3 | 13681 | 135 | 2 | 175 |
4 | 12379 | 120 | 2 | 165 |
5 | 15351 | 164 | 3 | 178 |
6 | 24174 | 221 | 5 | 220 |
7 | 20154 | 179 | 4 | 205 |
8 | 20671 | 204 | 5 | 210 |
9 | 22978 | 214 | 5 | 128 |
10 | 13522 | 101 | 1 | 176 |
11 | 22471 | 231 | 5 | 226 |
12 | 19529 | 206 | 4 | 296 |
13 | 24216 | 248 | 3 | 240 |
14 | 11521 | 107 | 2 | 168 |
15 | 19782 | 205 | 3 | 100 |
i. Draw three scatter plots of sales volume with each of the three variables and comment on their correlation.
ii. Regress the sales volume on #household, number of cars, and marketing expenses. Calculate R square and interpret the same.
iii. Determine which variable is/are significant variable/s. Is there any insignificant variable? If yes, regress again, by dropping the variable. Will dropping that variable increases the adjusted R square?
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