MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
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Question
Suppose that you are a manager for a factory that produces coats. You want to create a regression model with several variables to predict the price that a customer will be willing to pay for a coat. You examine the price the customers were willing to pay for your past 32 coat designs, along with the amount of material used (measured in yards), number of brands involved with the design/advertising, and the number of designs on the coat. The incomplete results of your multiple linear regression model are displayed below: Variable Coeff SE(Coeff) t-ratio P-value Intercept 86.19 53.21 Material used 42.5 1.2 (yards) Number of 21 3.4 Brands Number of 39.49 2 Designs Using this information, what is the coefficient of the predictor variable "Number of Brands"?
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Transcribed Image Text:Suppose that you are a manager for a factory that produces coats. You want to create a regression model with several variables to predict the price that a customer will be willing to pay for a coat. You examine the price the customers were willing to pay for your past 32 coat designs, along with the amount of material used (measured in yards), number of brands involved with the design/advertising, and the number of designs on the coat. The incomplete results of your multiple linear regression model are displayed below: Variable Coeff SE(Coeff) t-ratio P-value Intercept 86.19 53.21 Material used 42.5 1.2 (yards) Number of 21 3.4 Brands Number of 39.49 2 Designs Using this information, what is the coefficient of the predictor variable "Number of Brands"?
0.16 O 6.17 71.4 021 O 0.025
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Transcribed Image Text:0.16 O 6.17 71.4 021 O 0.025
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