Questions Answer

Assessment $1$ What is the data value for the holiday variable in January $2022?1$

Assessment $2$ What is the dependent variable in this regression? The dependent variable in regression is the monthly product demand.

Assessment $3$ According to the regression results, a one$-$point increase in GDP is associated with an increase in product demand by how many units $($round to two digits$)?4\mathrm{.}8$

Assessment $4$ What is the adjusted R$-$squared for our regression model predicting product demand? $0\mathrm{.}54$

Assessment $5$ According to the regression results, the Holiday months $($where Holiday equals $1)$ are associated with how big of an increase in product demand by how many units $($round to two digits$)?$

Assessment $6$ What is the data value for the holiday variable in December $2022?1$

Assessment $7$ What is the data value for the holiday variable in October $2022?1$

Assessment $8$ What is the data value for the holiday variable in November $2022?1$

Assessment $9$ Given regression results, which independent variable is not a significant predictor $($with a p$-$value greater than $0\mathrm{.}05)$ of product demand?

Assessment $10$ What is GDP in the regression?

Alternate Lab $5\mathrm{.}6$ Excel Analysis Questions

$1.$ What does a value of $1$ mean for holiday? What does a value of $0$ mean for holiday?

$2.$ Why might weather help explain product demand?

$3.$ How would you test the accuracy for these predictions of future product demand?