Statistics - Linear Statistical Predition
Not what you're looking for?
One week, when the price was lowered by 5%, sales revenue went up 13% relative to the average week at the regular price. Another week, with the price lowered by 10%, sales revenue was up 18%. The week with the lowest price (lowered by 20%) had sales revenue up 29%.
--Using standard methods for linear statistical prediction, find the percent increase in sales revenue that would be expected if the price were lowered by 15%.
---Find the usual measure of the strength of association between price reduction and sales revenue increase.
Purchase this Solution
Solution Summary
Linear statistical prediction is examined. A complete, neat and step-by-step solution is provided in the attached Excel file.
Purchase this Solution
Free BrainMass Quizzes
Terms and Definitions for Statistics
This quiz covers basic terms and definitions of statistics.
Measures of Central Tendency
This quiz evaluates the students understanding of the measures of central tendency seen in statistics. This quiz is specifically designed to incorporate the measures of central tendency as they relate to psychological research.
Know Your Statistical Concepts
Each question is a choice-summary multiple choice question that presents you with a statistical concept and then 4 numbered statements. You must decide which (if any) of the numbered statements is/are true as they relate to the statistical concept.
Measures of Central Tendency
Tests knowledge of the three main measures of central tendency, including some simple calculation questions.