21 Aug Market planning, Inc. a marketing researc
Market planning, Inc. a marketing research firm, has obtained the prescription sales data for 20 independent pharmacies (attached). In this table y is the average weekly prescription sales over the past year (in units of $1,000), x¬1 is the floor space (in square feet), x2 is the percentage of floor space allocated to the prescription department, x3 is the number of parking spaces available to the store, x4 is the weekly per capita income for the surrounding community (in units of $100), and x5 is a dummy variable that equals 1 if the pharmacy is located in a shopping center and 0 otherwise. Regress average weekly prescription sales against different combinations of the independent variables.
What is the best model?
Discuss what the parameter coefficients say about prescription sales.
PLEASE SHOW ALL WORK TO INCLUDE THE DIFFERENT MODELS
+——————————————————————-+ | pharmacy sales floorsp prespct parking income shopctr | |——————————————————————-| 1. | 1 22 4900 9 40 18 1 | 2. | 2 19 5800 10 50 20 1 | 3. | 3 24 5000 11 55 17 1 | 4. | 4 28 4400 12 30 19 0 | 5. | 5 18 3850 13 42 10 0 | |——————————————————————-| 6. | 6 21 5300 15 20 22 1 | 7. | 7 29 4100 20 25 8 0 | 8. | 8 15 4700 22 60 15 1 | 9. | 9 12 5600 24 45 16 1 | 10. | 10 14 4900 27 82 14 1 | |——————————————————————-| 11. | 11 18 3700 28 56 12 0 | 12. | 12 19 3800 31 38 8 0 | 13. | 13 15 2400 36 35 6 0 | 14. | 14 22 1800 37 28 4 0 | 15. | 15 13 3100 40 43 6 0 | |——————————————————————-| 16. | 16 16 2300 41 20 5 0 | 17. | 17 8 4400 42 46 7 1 | 18. | 18 6 3300 42 15 4 0 | 19. | 19 7 2900 45 30 9 1 | 20. | 20 17 2400 46 16 3 0 | +————————————————————-
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