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Quadratic Regression and Model Buildling

Quadratic Regression Problem

The marketing department wants to study the effect of price on the sales of packages of disposable razors. A sample of 15 stores is selected. The number of packages sold over a full week and the price at each store are in the following table (see attached file for data).

a. Construct a scatter plot .
b. State the quadratic regression equation.
c. Predict the mean weekly sales for a price per package of 79 cents..
d. Perform the residual analysis on the results
e. At the 0.05 level of significance, determine whether the quadratic model is a better fit than a linear model.

Model Building Problem

The table contains a sample of 30 homes located in Glen Cove. Develop the most appropriate multiple regression model to predict appraised value based on the variables given in the table.
(See attached file for data).

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Solution Summary

The solution provides a step by step method for the calculation of regression analysis.