Case Background: You are a marketing manager for Sunflower Moving Company, a company that helps people move their belongings from one residence to another. As part of the company's efforts to remain competitive, a study is implemented to examine factors that drive the sales of its moving services and products.Instructions:In addition to offering moving services, Sunflower Moving Company also sells moving supplies such as boxes, packing supplies, tie-down ropes, covers and bags, short-term storage options, bike racks, wheelchair carriers, motorcycle towing, etc. An initial study was conducted to examine the relationship between the sales levels of Sunflower's moving supplies and the price of its products. A regression model yielded an R-Square value of 45%. Interpret this statistic. Do you think this statistic indicates that Price is a good predictor of Sales? Justify your answer.You direct your market research team to expand the study. Besides Price, suggest 3 other predictor variables (independent variables) that could be considered to help explain or predict the sales level of Sunflower's moving supply products. Consider both numeric and categorical variables as possible predictor variables. Defend your answer.

1 If the regression model has independent variables that are of the utmost importance for the…

Answered: You are a marketing manager for…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Case Background: You are a marketing manager for Sunflower Moving Company, a company that helps people move their belongings from one residence to another. As part of the company's efforts to remain competitive, a study is implemented to examine factors that drive the sales of its moving services and products.

Instructions:

In addition to offering moving services, Sunflower Moving Company also sells moving supplies such as boxes, packing supplies, tie-down ropes, covers and bags, short-term storage options, bike racks, wheelchair carriers, motorcycle towing, etc. An initial study was conducted to examine the relationship between the sales levels of Sunflower's moving supplies and the price of its products. A regression model yielded an R-Square value of 45%. Interpret this statistic. Do you think this statistic indicates that Price is a good predictor of Sales? Justify your answer.
You direct your market research team to expand the study. Besides Price, suggest 3 other predictor variables (independent variables) that could be considered to help explain or predict the sales level of Sunflower's moving supply products. Consider both numeric and categorical variables as possible predictor variables. Defend your answer.

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