ABC would like to set up a predictive model for mixer-blender sales and most sal
ID: 374469 • Letter: A
Question
ABC would like to set up a predictive model for mixer-blender sales and most sales executives assume that prices and discounts are the primary determinants of sales. However some executives maintain that customers are not sensitive to price levels and in reality sales respond mainly to discounts. To study these issues data on monthly sales is available for the past 24 months, and so is data on 'average discounts' and 'average prices’ for those months. (Please Refer to Data Table-II)
Question 8. Using Data Table-II, Excel or a statistical Program, and considering Sales as the dependent variable and Average Prices and Average Discounts as the explanatory variables use regression to arrive at the “ideal predictive model” (in the ideal model, you are to choose the explanatory variable/s that you think should be used). Explain how you arrive at this model.
Question 9. Are any of the explanatory variables “dropped” or excluded from the ideal model. Why or why not?
DATA TABLE-II
Sales ($ TH.)
AVERAGE PRICE ($)
AVERAGE DISCOUNTS (%)
92
34
6
98
43
6.2
108
32
7
114
41
6
120
23
8
123
43
8
126
43
9.6
145
33
8.3
156
44
9.9
165
26
10
168
43
10
175
23
11
187
56
10
192
32
12.3
200
33
14
213
54
16
214
32
14.4
222
23
18.2
224
45
14
245
56
22
246
44
18
256
56
19
270
45
20
276
32
22
*The data have been sorted in the order of increasing sales
Sales ($ TH.)
AVERAGE PRICE ($)
AVERAGE DISCOUNTS (%)
92
34
6
98
43
6.2
108
32
7
114
41
6
120
23
8
123
43
8
126
43
9.6
145
33
8.3
156
44
9.9
165
26
10
168
43
10
175
23
11
187
56
10
192
32
12.3
200
33
14
213
54
16
214
32
14.4
222
23
18.2
224
45
14
245
56
22
246
44
18
256
56
19
270
45
20
276
32
22
Explanation / Answer
Tesla's way to deal with self-driving cars contrasts from Google's. The former is incrementally acquainting further developed autonomous features which gets the chance to full self-sufficiency in the end, while the latter supposes it is more secure to make the hop to totally self-sufficient driving once the innovation is in the last stage. The two organizations likewise have distinctive ways to deal with equipment. Google depends on LiDAR, while Tesla believes it's pointless and that a blend of cameras and radars ought to carry out the activity. The truth will surface eventually which technique will end up being the best, yet meanwhile, Tesla shared an uncommon information point that gives us some viewpoint on the two projects.Dissimilar to Tesla, Google shares month to month details regarding its self-driving auto program (please Tesla, take case). The organization discharges its total miles driven on self-sufficient and manual modes, and in addition mishap reports (when there are any) and once in a while they release the latest technology that they are implementing. The organization affirmed that around 50 million miles were driven while the Autopilot
mode was enacted. At the point when initially presenting the new highlights, CEO Elon Musk said that Tesla's vehicle fleet was including around 1 million miles of information consistently, which demonstrates that the organization may pull information notwithstanding when the framework isn't currently controlling the cars. Obviously, Google's miles were city miles, while the Autopilot is for interstate travelling which gives a particular preferred standpoint to Tesla in term of racking up information in miles. Despite the fact that Google is falling behind for genuine miles, the organization rushes to include mimicked miles with more than 4 millions every day, without leaving the lab.
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