Overview
Q1 The X variable is going to be customer experience and customer retention will be the Y variable.
If customers have good experience with our flights they are likely to remain in the flight company. If a customer has a bad experience they are likely to leave the company. Therefore if X increases then Y increases in this case the variables are directly related.
2. linear regression equation
Bobblehead (unit) sales in city= 1.2Price-0.6Advertising spend (in thousands of dollars)+ 0.98 Number of small retailers that carry our product+ 0.44Number of large retailers that carry our product.
Q 3. No, the cities do not have any difference in responsiveness to advertising or price. Statistically, this is proven by the P-value for the cities =0. This means that there is no basis to make a conclusion
Q 4. No, the cities do not have any difference in responsiveness to advertising or price. Statistically, this is proven by the P-value for the cities =0. This means that there is no basis to make a conclusion
Q 3.Demographic
In a demographic population that has young and working and wealthy people one tendency to buy a Toyota corolla is higher than in a population with aged and poor people
purchase history
One’s purchase history is an important factor if a person has a history of purchasing cars worth $10000 they are likely to buy the Toyota corolla and if one has a tendency of purchasing cars worth $1000000 they are likely to buy better quality cars.
Using one purchase history if one has acquired a car recently they are not likely to acquire a Toyota corolla now
This is the lifestyle tastes and interest
If one has likes Toyota corolla they will be likely to buy the Toyota while if one do not like the Toyota Corolla they are likely not to Buy Toyota Corolla
The treatment group's spending on books went (up ) by $30.87 per person, on average, between the control and treatment period. If they had not been treated, we believe their spending would have gone (down) by $__59.89__ per person, on average. For this reason, the treatment effect of joining the online community is $29.02."
Q 5 The treatment group's spending on books went (up ) by $30.87 per person, on average, between the control and treatment period. If they had not been treated, we believe their spending would have gone (down) by $__59.89__ per person, on average. For this reason, the treatment effect of joining the online community is $29.02."
Question 6 Ride-hailing modeling
Supply is the Y variable
X variables include price
season
city
Kilometers from the city
availability of traffic
Price is an important factor to consider since motorists will only be available to pick up the riders if the price they pay will be enough to foot the operating costs.
The season is also important since there are seasons when the motorists are not available like during festive seasons and at night.
The kilometers the rider is away from the city where If the rider is far away from the city they might not be served the by the drivers
Traffic in the days when there is high traffic jam drivers may fail to reach the riders and therefore the riders may choose alternative ways
Question 7. The people purchasing the tickets earlier will receive a higher discount and therefore will buy cheaper prices compared to those who are buying their tickets at the last minute this is because the company selling the flights will sell their tickets at higher prices giving little or no discount since they want to maximize on the profits realized and also maximize on the number of seats available.
We can use the excel solver to optimize the prices of the tickets weekly constraining it to the number of tickets remaining