Question

In: Advanced Math

The McBurger Corporation developed a new vegan burger and introduced the product to several test markets....

The McBurger Corporation developed a new vegan burger and introduced the product to several test markets. The burger comes with the non-meat based patty and the usual accoutrements such as lettuce, tomato, ketchup, mustard, pickle, onion, special sauce, and a bun. The company is interested in customer response, and surveyed customers about satisfaction with the burger. A data analyst proposed a multiple regression model with an interval level dependent variable of repurchase (measured by a ratings thermometer from 0 (will definitely not repurchase) to 100 (will repurchase). The data analyst is not sure on what independent variables will best predict repurchase, and needs your help. What independent variables would you include in the multiple regression model? Explain your reasoning for including each independent variable. Which variable would be your best predictor of repurchase?

Identify at least four independent variables.

Solutions

Expert Solution

Answer :-

An independent variable is a variable that represents a quantity that is being manipulated in an experiment. x is often the variable used to represent the independent variable in an equation.


Related Solutions

A new product, an automated crepe maker, is being introduced at Knutt Corporation. At a selling...
A new product, an automated crepe maker, is being introduced at Knutt Corporation. At a selling price of $40 per unit, management projects sales of 80,000 units. Launching the crepe maker as a new product would require an investment of $280,000. The desired return on investment is 11%. The target cost per crepe maker is closest to: (Round your answer to 2 decimal places.) Multiple Choice $47.42 $47.80 $39.62 $40.00
The prevalence of a disease D in the population is 10%. A new test is introduced...
The prevalence of a disease D in the population is 10%. A new test is introduced by a laboratory with the following characteristics. The laboratory notes that if someone has the disease, his or her test will be positive 90% of the time (P(pos|D) = 0.90). However, a completely healthy individual will test positive with probability 0.06 (P (pos|Dc) = .06).    (a) If we randomly select 5 people from this population, what is the probability that all of them...
A new actuarial test (Test A) was developed as a possible replacement for an old actuarial...
A new actuarial test (Test A) was developed as a possible replacement for an old actuarial test (Test B). An actuary claimed that the mean time to complete the new test A was more than the mean time to complete an old test B. The summary data for completion time (in minutes) are as follows. Test A : n=9, X bar=160 minutes, S2=180 minutes Test B : n=10 X bar=150 minutes, S2=30 minutes (a) At α=10%, use the Classical approach...
Suppose a company has the opportunity to bring out a new product, the Vitamin-Burger. The initial...
Suppose a company has the opportunity to bring out a new product, the Vitamin-Burger. The initial cost of the assets is $105 million, and the company’s working capital would increase by $13 million during the life of the new product. The new product is estimated to have a useful life of four years, at which time the assets would be sold for $16 million. Management expects company sales to increase by $140 million the first year, $175 million the second...
A company introduced a new product last year for which it is trying to find an...
A company introduced a new product last year for which it is trying to find an optimal selling price. Marketing studies suggest that the company can increase sales by 5,000 units for each $2 reduction in the selling price. The company’s present selling price is $93 per unit, and variable expenses are $63 per unit. Fixed expenses are $838,500 per year. The present annual sales volume (at the $93 selling price) is 25,700 units. 1. What is the present yearly...
Data for a new product that is very labor intensive introduced by Hicks Brothers in the...
Data for a new product that is very labor intensive introduced by Hicks Brothers in the operation in Hendersonville, TN is given below. The average labor cost including overhead expenses is about $20 per hour. Time for the very first unit = 9 hours Time for the second unit = 8.462 hours. What is the labor cost for the 1000-th unit ?
A new version of the Medical College Admissions Test (MCAT) was introduced in spring 2015 and...
A new version of the Medical College Admissions Test (MCAT) was introduced in spring 2015 and is intended to shift the focus from what applicants know to how well they can use what they know. One result of the change is that the scale on which the exam is graded has been modified, with the total score of the four sections on the test ranging from 472 to 528. In spring 2015, the mean score was 500.0 with a standard...
Do you believe that the markets could be developed to receive a new gadget or should...
Do you believe that the markets could be developed to receive a new gadget or should the new gadget be developed to meet markets needs? How do you know what are the needs if the gadget is not in the hand of the consumer yet?  
A new test has been developed for diagnosing Rheumatoid Arthritis. The test was evaluated in four...
A new test has been developed for diagnosing Rheumatoid Arthritis. The test was evaluated in four communities with the following results Table-1:             Table 1: Results of a new screening test for Rheumatoid Arthritis in Four Communities Community A Rheumatoid Arthritis Present Absent Total Test Result + 887 888 1775 Test Result -- 99 7989 8088 986 8877 9863 Community B Rheumatoid Arthritis Present Absent Total Test Result + 1485 385 1870 Test Result -- 165 3465 3630 1650 3850...
A​ new, simple test has been developed to detect a particular type of cancer. The test...
A​ new, simple test has been developed to detect a particular type of cancer. The test must be evaluated before it is put into use. A medical researcher selects a random sample of 1,000 adults and finds​ (by other​ means) that 3​% have this type of cancer. Each of the 1,000 adults is given the​ test, and it is found that the test indicates cancer in 97​% of those who have it and in 2​% of those who do not....
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT