A Market Analyst Is Developing a Regression Model to Predict

question 23

Multiple Choice

A market analyst is developing a regression model to predict monthly household expenditures on groceries as a function of family size, household income, and household neighborhood (urban, suburban, and rural) .The response variable in this model is _____.

• A)family size
• B)expenditures on groceries
• C)household income
• D)suburban
• E)household neighborhood

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Definitions:

Retail Inventory Method

The retail inventory method is an accounting technique used by retailers to estimate their inventory's ending balance/cost based on the relationship between the cost of merchandise and its retail price.