Regression analysis question. I wanna use Regression analysis to incorporate sales of a protein powder. Maybe...

Regression analysis question. I wanna use Regression analysis to incorporate sales of a protein powder. Maybe the price vs sales or how it would go up or down based on price? What could i go with?

I have to think of a problem dealing with two possibly related variables (Y and X) that im interested in. Please create my problem and discuss why a regression analysis could be appropriate for this problem

Specifically, what statistical questions would I be asking? Why would I want to predict the value of Y? What if I wanted to predict a value of Y that’s beyond the highest value of X (for example if X is time and you want to forecast Y in the future)? Please describe the data collection process that you are proposing but you do not need to collect any data.

Expert Solution

orchestra answered 1 year ago

Regression analysis queston. I wanna use Regression analysis to incoraparate sales of a protein powder. Maybe...

Regression analysis queston. I wanna use Regression analysis to incoraparate sales of a protein powder. Maybe the price vs sales or how it would go up or down based on price. Give me some ideas! I have to think of a problem dealing with two possibly related variables (Y and X) that im interested in. Please create my problem and discuss why a regression analysis could be appropriate for this problem. Specifically, what statistical questions would I be asking? Why...

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