Question

Situation
You are the VP of sales for a major US company. Your company currently sells products in 47 states. Its main product is targeted to males between the ages of 25 and 30. You are trying to understand the factors that impact the sales of that product. You have collected the following data, which represent some factors you believe could be important. The dataset includes the following variables for each state.
Y = sales (2014)
X1 = the number of males between the ages of 25 and 30 (your target market)
X2 = a binary variable distinguishing the southern states from the others (1 = southern, 0 = other)
X3 = the mean number of years of college education for people age 25-30
X4 = amount of money spent on promotions (2014)
X5 = amount of money spent on promotions (2013)
X6 = percentage of males (25-30) who said they were in the market for your product (2014)
X7 = percentage of males (25-30) in the state population
X8 = percentage of low income males (25-30)
X9 = the unemployment rate for males (25-30)
X10 = median income for males (25-30)

Step 1
Provide an analysis of the distribution of each variable individually. Use the appropriate descriptive statistics and visual tools. Your analysis should include an interpretation of your results.

Step 2
Provide an analysis of the relationship between each explanatory variable (i.e., the Xs) and sales (Y). Your analysis should include the appropriate descriptive statistics and visual tools. Your analysis should include an interpretation of your results.

Step 3
Provide an analysis that compares the southern states with the others states over all of the variables included in the dataset. Your analysis should include an interpretation of your results.

Step 4
Develop a multiple regression model using Y as the dependent variable. Your analysis should include an interpretation of your results.

Step 5
Provide an overview of your results that would be useful for making decision in the future.

Solution Preview

This material may consist of step-by-step explanations on how to solve a problem or examples of proper writing, including the use of citations, references, bibliographies, and formatting. This material is made available for the sole purpose of studying and learning - misuse is strictly forbidden.

Applied Statistics

This is only a preview of the solution. Please use the purchase button to see the entire solution

Assisting Tutor

Related Homework Solutions

Statistics Questions
Homework Solution
$65.00
Statistics
Mathematics
Z Scores
Variance
Standard Deviation
Proportion
Mean
Linear Correlation
Regression Line
Confidence Intervals
Hypothesis
Alpha Value
Random Sample
Chi-Square Distribution
Significance Level
Statistics Questions
Homework Solution
$15.00
Statistics
Mathematics
Data
Variables
Graphical Representation
Mean
Sample
Variance
Standard Deviation
Surveys
Social Media
Questionnaires
Observational Studies
Population
Positive Correlation
Negative Correlation
Probability
Scatterplot
Statistics Questions
Homework Solution
$10.00
Statistics
Wildlife
Service
Estimate
99%
Confidence
Mean
Hunting
Standard
Deviation
Bilirubin
Infants
Interval
Statistics Questions
Homework Solution
$25.00
Statistics
Mathematics
MBA Level
Lectures
Meetings
Boxplots
Population
Variance
Visual Interpretation
Confidence Interval
Reasoning
Null Hypothesis
Alternative Hypothesis
Functions
Differences
Get help from a qualified tutor
Live Chats