On the basis of the following data, estimate the cost of the merchandise inventory at March 31 by the retail method:
Definitions:
Main Effect
The direct influence of an independent variable on a dependent variable in an experiment, disregarding the effects of or interactions with other variables.
Day of Week
Indicates one of the seven named divisions in a week, ranging from Sunday to Saturday.
Interaction Effect
In statistics, it refers to a situation in which the effect of one independent variable on a dependent variable changes depending on the level of another independent variable.
Marginal Mean
The mean of the subset of observations that contribute to the marginal total, providing insight into specific group effects within a larger dataset.
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