- Q3 Regression Based On The Market Research Abc Company Found Two Factors 1 Household Income And 2 Population Will 1 (59.94 KiB) Viewed 60 times
Q3. Regression Based on the market research, ABC Company found two factors: 1) household income, and 2) population will affect car sales. The company has collected the following data for 15 different areas: Area Car Sales Household Income Population (in thousands) 1 AN- 3 4 5 6 7 8 9 10 11 12 13 14 15 $425,922 86,233 98,811 125,354 97.199 278,203 346,302 157,860 189,675 96,372 146,788 145,343 534,800 520,233 381,948 $216,320 102,360 112,260 160,370 103,490 182,030 259,740 183,410 198,750 107,690 194,610 147,360 361,760 309,410 279,760 334.21 101 27 62.13 100.49 89.43 210.59 254.81 136.89 160.19 90.58 119.43 110.87 350.68 300.96 228.76 a 2. Develop a multiple regression model for car sales, as a function of household income and population b. In the regression results table, highlight the key information (1.0. coefficients for two independent variables, and corresponding p values), c. Show the complete regression model (with coefficients and intercepts). Calculate car sales when the household income is $206,000, and population is 190.00 (in thousands)