Self-practice question

An analyst is investigating the factors affecting the sales quantity of a commodity. These
factors include whether a coupon has been offered, lower price, extra bonus points granted
during the week. The data in file “Self-practice.xlsx” contained such information for a 20-week
period.

(a) Determine a least-squares regression model that can predict the weekly sales of the
commodity with good accuracy. In addition, all independent variables should be significant
at 1% level.

(b) How accurate is the model in (a)?

(c) Interpret the coefficients in the model in (a).

(d) What category of each independent variable in the model in (a) appears to maximize sales?

(e) How to detect outliers? Are there any outliers in the model (a)?

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