Marketing Analyst
a Marketing Analyst Is Interested in Predicting Prospective

question 89

Essay

Marketing Analyst
A marketing analyst is interested in predicting prospective buyer's knowledge about compact disc players.A random sample of 36 buyers was taken,a questionnaire about compact disc players completed,and information about education,income and age was obtained.In estimating the equation,the variables were:
y = knowledge about compact disc players
x₁ = education (years)
x₂ = age
x₃ = income (thousands of dollars)
The resulting output using MINITAB was: $$\begin{array}{l}\text { The regression equation is }\\\begin{array} { l c c r } Y = 50.2 + 4.36 \times 1 - 0.632 \times 2 - 0.068 \times 3 & \\& & \\\text { Predictor } & \text { Coef } & \text { Stdev } & \text { t-ratio } \\\text { Constant } & 50.168 & 4.977 & 10.08 \\X 1 & 4.3609 & 0.4064 & 10.73 \\X 2 & - 0.63169 & 0.08172 & - 7.73 \\X 3 & - 0.0682 & 0.1176 & - 0.58 \\s = 4.615 & \text { R-sq } = 85.0 \% & \text { R-sq(adj) } = 83.6 \%\end{array}\end{array}$$
-Identify the coefficient of multiple determination,R².
Interpret the value.

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Definitions:

Confidence

A feeling or belief in one's abilities, qualities, and judgment.

Collaborative Partnerships

Cooperative relationships between individuals or organizations aimed at achieving shared goals through working together.

Component

A part or element of a larger whole, especially part of a machine or system.

Trust

The firm belief in the reliability, truth, ability, or strength of someone or something.