Monthly sales revenue for a given city is denoted by S = SALES and measured in $1,000 units. ![]() The prices charged in a given city are collected together into a weighted price index that is denoted by P = PRICE and measured in dollars. Big Andy’s sales revenue depends on the prices charged for hamburgers, fries, shakes, and so on, and on the level of advertising. The example used in this chapter is a model of sales for Big Andy’s Burger Barn. As such it is a simple but important extension that makes linear regression quite powerful. The multiple linear regression model expands the number of explanatory variables. ![]() ![]() In the simple linear regression model the average value of a dependent variable is modeled as a linear function of a constant and a single explanatory variable.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |