Define regression model between quantity sold and variables

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Reference no: EM133298303

Topic: The owner of the Original Italian Pizza restaurant chain would like to predict the sales of his specialty, deep-dish pizza. He has gathered data on the monthly sales of deep-dish pizzas at his restaurants and observations on other potentially relevant variables for each of his 15 outlets in central Indiana. These data are provided in the file P10_04.xlsx.

Question 1:Estimate a multiple regression model between the quantity sold (Y) and the explanatory variables in columns C-E.

Question 2: Is there evidence of any violations of the key assumptions of regression analysis? (Please draw and interpret a scatter plot of the residual and predicted value. You can get data for residual and predicted Y by checking Residuals on the regression menu.)

Question 3: Which of the variables in this equation have regression coefficients that are statistically different from zero at the 5% significance level?

Question 4: Given your findings in part c, which variables, if any, would you choose to remove from the equation estimated in part a? Why?

Reference no: EM133298303

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