Enterprise Industries produces Fresh, a brand of liquid laundry detergent. In arder to manage its inventory more effectively and make revenue projections, the company would like to better predict demand for Fresh. To develop a prediction model, the company has gathered data concerning demand for Fresh over the last 30 sales periods (each sales period is defined to be a four week period). The demand data are presented in table below conceming y(demand for Fresh liquid laundry detergent), x (the price of Fresh), x (the average industry price of competitors' similar detergents), and x3 (Enterprise Industries' advertising expenditure for Fresh). To ultimately increase the demand for Fresh, Enterprise Industries' marketing department is comparing the effectiveness of three different advertising campaigns. These campaigns are denoted as campaigns A, B, and C Campaign A consists entirely of television commercials, campaign B consists of a balanced mixture of television and radio commercials, and campaign Č consists of a balanced mixture of television, radio, newspaper, and magazine ads. To conduct the study, Enterprise Industries has randomly selected one advertising campaign to be used in cach of the 30 sales periods in table below. Although logic would indicate that each of campaigns A, B, and Cshould be used in 10 of the 30 sales periods, Enterprise Industries has made previous commitments to the advertising media involved in the study. As a result, campaigns A, R and C were randomly assigned to, respectively. 9, 11, and 10 sales periods. Furthermore, advertising was done in only the first three weeks of each sales period, so that the carryover effect of the campaign used in a sales period to the next sales period would be minimized. Table lists the campaigns used in the sales periods. To compare the effectiveness of advertising campaigns A B, and C, we define two dummy variables. Specifically, we define the dummy variable ag to equal 1 if campaign Bis used in a sales period and O otherwise. Furthermore, we define the dummy variable De to equal 1f campalgn Cis used in a sales period and O otherwise. Table presents the JMP output of a regression analysis of the Fresh demand dats bu uriDg the modol
Enterprise Industries produces Fresh, a brand of liquid laundry detergent. In arder to manage its inventory more effectively and make revenue projections, the company would like to better predict demand for Fresh. To develop a prediction model, the company has gathered data concerning demand for Fresh over the last 30 sales periods (each sales period is defined to be a four week period). The demand data are presented in table below conceming y(demand for Fresh liquid laundry detergent), x (the price of Fresh), x (the average industry price of competitors' similar detergents), and x3 (Enterprise Industries' advertising expenditure for Fresh). To ultimately increase the demand for Fresh, Enterprise Industries' marketing department is comparing the effectiveness of three different advertising campaigns. These campaigns are denoted as campaigns A, B, and C Campaign A consists entirely of television commercials, campaign B consists of a balanced mixture of television and radio commercials, and campaign Č consists of a balanced mixture of television, radio, newspaper, and magazine ads. To conduct the study, Enterprise Industries has randomly selected one advertising campaign to be used in cach of the 30 sales periods in table below. Although logic would indicate that each of campaigns A, B, and Cshould be used in 10 of the 30 sales periods, Enterprise Industries has made previous commitments to the advertising media involved in the study. As a result, campaigns A, R and C were randomly assigned to, respectively. 9, 11, and 10 sales periods. Furthermore, advertising was done in only the first three weeks of each sales period, so that the carryover effect of the campaign used in a sales period to the next sales period would be minimized. Table lists the campaigns used in the sales periods. To compare the effectiveness of advertising campaigns A B, and C, we define two dummy variables. Specifically, we define the dummy variable ag to equal 1 if campaign Bis used in a sales period and O otherwise. Furthermore, we define the dummy variable De to equal 1f campalgn Cis used in a sales period and O otherwise. Table presents the JMP output of a regression analysis of the Fresh demand dats bu uriDg the modol
Linear Algebra: A Modern Introduction
4th Edition
ISBN:9781285463247
Author:David Poole
Publisher:David Poole
Chapter7: Distance And Approximation
Section7.3: Least Squares Approximation
Problem 31EQ
Related questions
Question
excel:
Price | IndPrice | PriceDif | AdvExp | Demand | AdCamp | DA | DB | DC |
X1 | X2 | X4 | X3 | Y | ||||
3.85 | 3.80 | -0.05 | 5.50 | 7.38 | B | 0 | 1 | 0 |
3.75 | 4.00 | 0.25 | 6.75 | 8.51 | B | 0 | 1 | 0 |
3.70 | 4.30 | 0.60 | 7.25 | 9.52 | B | 0 | 1 | 0 |
3.70 | 3.70 | 0.00 | 5.50 | 7.50 | A | 1 | 0 | 0 |
3.60 | 3.85 | 0.25 | 7.00 | 9.33 | C | 0 | 0 | 1 |
3.60 | 3.80 | 0.20 | 6.50 | 8.28 | A | 1 | 0 | 0 |
3.60 | 3.75 | 0.15 | 6.75 | 8.75 | C | 0 | 0 | 1 |
3.80 | 3.85 | 0.05 | 5.25 | 7.87 | C | 0 | 0 | 1 |
3.80 | 3.65 | -0.15 | 5.25 | 7.10 | B | 0 | 1 | 0 |
3.85 | 4.00 | 0.15 | 6.00 | 8.00 | C | 0 | 0 | 1 |
3.90 | 4.10 | 0.20 | 6.50 | 7.89 | A | 1 | 0 | 0 |
3.90 | 4.00 | 0.10 | 6.25 | 8.15 | C | 0 | 0 | 1 |
3.70 | 4.10 | 0.40 | 7.00 | 9.10 | C | 0 | 0 | 1 |
3.75 | 4.20 | 0.45 | 6.90 | 8.86 | A | 1 | 0 | 0 |
3.75 | 4.10 | 0.35 | 6.80 | 8.90 | B | 0 | 1 | 0 |
3.80 | 4.10 | 0.30 | 6.80 | 8.87 | B | 0 | 1 | 0 |
3.70 | 4.20 | 0.50 | 7.10 | 9.26 | B | 0 | 1 | 0 |
3.80 | 4.30 | 0.50 | 7.00 | 9.00 | A | 1 | 0 | 0 |
3.70 | 4.10 | 0.40 | 6.80 | 8.75 | B | 0 | 1 | 0 |
3.80 | 3.75 | -0.05 | 6.50 | 7.95 | B | 0 | 1 | 0 |
3.80 | 3.75 | -0.05 | 6.25 | 7.65 | C | 0 | 0 | 1 |
3.75 | 3.65 | -0.10 | 6.00 | 7.27 | A | 1 | 0 | 0 |
3.70 | 3.90 | 0.20 | 6.50 | 8.00 | A | 1 | 0 | 0 |
3.55 | 3.65 | 0.10 | 7.00 | 8.50 | A | 1 | 0 | 0 |
3.60 | 4.10 | 0.50 | 6.80 | 8.75 | A | 1 | 0 | 0 |
3.65 | 4.25 | 0.60 | 6.80 | 9.21 | B | 0 | 1 | 0 |
3.70 | 3.65 | -0.05 | 6.50 | 8.27 | C | 0 | 0 | 1 |
3.75 | 3.75 | 0.00 | 5.75 | 7.67 | B | 0 | 1 | 0 |
3.80 | 3.85 | 0.05 | 5.80 | 7.93 | C | 0 | 0 | 1 |
3.70 | 4.25 | 0.55 | 6.80 | 9.26 | C | 0 | 0 | 1 |
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