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    Sleepy Model and Snoozy Model: Regression

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    See the attached file.

    There are two prescription insomnia drugs in development. Below is the market research data.
    The most likely scenario for Product Sleepy is: Efficacy = 3, Safety = 4, Price = 2, Convenience = 4.
    The most likely scenario for Product Snoozy is: Efficacy = 5, Safety = 2, Price = 3, Convenience = 2.
    3a) These products both target the exact same patient population. Which product is expected to get more share? Explain your answer.
    3b) How good are the models? Explain your answer.

    See attached file for data.

    © BrainMass Inc. brainmass.com June 4, 2020, 4:40 am ad1c9bdddf
    https://brainmass.com/statistics/correlation-and-regression-analysis/sleepy-model-snoozy-model-regression-573692

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    Solution Preview

    Please see the attached solution. I used the built-in Excel StatPlus (newer version of the AnalysisToolPak tool) to solve these questions. Models are included in the second and third worksheets. The first one contains all the answers with explanations.

    Problem 3: There are two prescription Insomnia drug in development. Below is the market research data.
    The most likely scenario for Product Sleepy is: Efficacy = 3, Safety = 4, Price = 2, Convenience = 4.
    The most likely scenario for Product Snoozy is: Efficacy = 5, Safety = 2, ...

    Solution Summary

    The built-in Excel StatPlus (newer version of the AnalysisToolPak tool) is used to solve the given questions. Models are included in the second and third worksheets. The first one contains all the answers with explanations.

    $2.19

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