Regression model of the demand for consumer durable

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Reference no: EM1376087

Find any differences in the set of variables used in a regression model of demand for consumer durable (e.g., automobiles, appliances, furniture) and a regression model of the demand for "fast-moving consumer goods" (e.g., food, beverages, personal care products)?

Think about the factors that influence your decision when you go to Walmart to buy shampoo versus the factors that influence your decision when you go to the car dealership to purchase a car. For example, does your future earning power come into play when you are deciding between two different types of shaving creams? How about when you are deciding between a Lexus or a Toyota?

Again, use economic theory to back up your answer. What is the point of a regression and why do the dependent variables matter so much when developing the regression model.]

Reference no: EM1376087

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