One of the most difficult tasks in regression analysis is to obtain the data sui
ID: 1185017 • Letter: O
Question
One of the most difficult tasks in regression analysis is to obtain the data suitable for quantitative studies of this kind. Suppose you are trying to estimate the demand for home furniture. Suggest the kinds of variables that could be used to represent the following factors, which are beleived to affect thee demand for any product. Be as specific as possible about how these variables are going to be measured. Do you anticipate any difficulty in securing such data? Explain. Please fill out chart below as well.
Explanation / Answer
One of the most difficult tasks in regression analysis is to obtain the data suitable for quantitative studies of this kind. Suppose you are trying to estimate the demand for home furniture. Suggest the kinds of variables that could be used to represent the following factors, which are beleived to affect thee demand for any product. Be as specific as possible about how these variables are going to be measured. Do you anticipate any difficulty in securing such data? Explain. Please fill out chart below as well.
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