#_Items_Sold TV$ Conference$ JournalAd$ 88,000 87,000 95,000 100,000 80,000 98,0
ID: 3071352 • Letter: #
Question
#_Items_Sold TV$ Conference$ JournalAd$ 88,000 87,000 95,000 100,000 80,000 98,000 99,000 99,000 96,000 101,000 103,000 101,000 76,000 91,000 95,000 93,000 80,000 88,000 102,000 95,000 73,000 84,000 94,000 95,000 58,000 74,000 89,000 80,000 116,000 102,000 112,000 116,000 104,000 105,000 110,000 106,000 99,000 97,000 87,000 105,000 64,000 88,000 90,000 90,000 126,000 108,000 101,000 113,000 94,000 89,000 100,000 96,000 71,000 78,000 85,000 98,000 111,000 109,000 99,000 109,000 109,000 108,000 101,000 102,000 100,000 102,000 93,000 100,000 127,000 110,000 108,000 107,000 99,000 95,000 100,000 108,000 82,000 90,000 69,000 95,000 67,000 85,000 95,000 91,000 100,000 103,000 91,000 114,000 78,000 80,000 80,000 93,000 115,000 104,000 85,000 115,000 83,000 83,000 105,000 97,000 125,000 100,000 98,000 110,000 92,000 85,000 100,000 90,000 72,000 80,000 86,000 95,000 Part A - 10pts) Write down the regression equation for this problem. Part B - 10pts) How good is this model? Explain your answer. Part C - 10pts) Which promotional mix strategy below is predicted to produce most Items Sold (answer using all three input variables)? TV$ Conference JournalAd Strategy A) 80,000 70,000 80,000 Strategy B) 90,000 60,000 85,000 Strategy C) 55,000 85,000 100,000 Strategy D) 75,000 80,000 70,000 Strategy E) 95,000 70,000 65,000 Strategy F) 65,000 70,000 75,000 Part D - 10pts) Which variable is the most significant to the Target (Items Sold)? #_Items_Sold TV$ Conference$ JournalAd$ 88,000 87,000 95,000 100,000 80,000 98,000 99,000 99,000 96,000 101,000 103,000 101,000 76,000 91,000 95,000 93,000 80,000 88,000 102,000 95,000 73,000 84,000 94,000 95,000 58,000 74,000 89,000 80,000 116,000 102,000 112,000 116,000 104,000 105,000 110,000 106,000 99,000 97,000 87,000 105,000 64,000 88,000 90,000 90,000 126,000 108,000 101,000 113,000 94,000 89,000 100,000 96,000 71,000 78,000 85,000 98,000 111,000 109,000 99,000 109,000 109,000 108,000 101,000 102,000 100,000 102,000 93,000 100,000 127,000 110,000 108,000 107,000 99,000 95,000 100,000 108,000 82,000 90,000 69,000 95,000 67,000 85,000 95,000 91,000 100,000 103,000 91,000 114,000 78,000 80,000 80,000 93,000 115,000 104,000 85,000 115,000 83,000 83,000 105,000 97,000 125,000 100,000 98,000 110,000 92,000 85,000 100,000 90,000 72,000 80,000 86,000 95,000Explanation / Answer
1) Regression equation is Y = B0 + B1*X1 +B2*X2 +B3*X3
So for this problem regression equation is JournalAd$ = -1.091e+05 + (9.081e-01 * TV) +
(8.722e-02* Conference) + (1.090e+00 * JournalAd)
and the formula of regression in R for this problem is lm(formula = `#_Items_Sold` ~ ., data = train1)
2) This is the good model because Multiple R-squared= 0.849, Adjusted R-squared = 0.8223, both values of R square and Adjusted R square are greater thatn 80%.
You can see the summery of this model below
3) according to this model the
Strategy A) value is 56853.4
Strategy B) value is 70512.2
Strategy C) value is 57259.2
Strategy D) value is 42285.1
Strategy E) value is 54124.9
Strategy F) value is 37781.9
4) TV and JournalAd are the most significant variables, you can see the results in summary, only TV and JournalAd have two stars.
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