Draw a scatter plot with Razor Price on the X-axis and demand for razors, blades and shaving foam on the Y-axis. Add a trendline to each plot. Based on the trendline, demand for which product is (a)...




Draw a scatter plot with Razor Price on the X-axis and demand for razors, blades and shaving foam on the Y-axis. Add a trendline to each plot. Based on the trendline, demand for which product is (a) most impacted by the Razor price, (b) least impacted by the Razor price?



b.Run regressions with demand for each product as the dependent variable and Razor price as the independent. Does Razor Price significantly affect demand for each product and if so, for which product does it have the biggest impact?






Format: Word/PDF( copy and paste the scatter plot and the regression output table in the document and answer the corresponding question below)



data Razor PriceRazorBlade_newShaving Form $9.3039167490 $9.10418690100 $8.50459731115 $9.5042468981 $8.7044775089 $9.7038364692 $9.8039966096 $8.8044072966 $8.6043671574 $9.6041370762 $8.2042871564 $8.00479754101 $8.1046276769 $9.8038767877 $8.90454708114 $9.4041867388 $8.30447751107 $9.60442732102 $9.9038166495 $9.3040166268 $8.1046874970 $8.7042869164 $8.10480753115 $8.1043670670 $8.5047474376 $8.1048779393 $8.8045975473 $9.5042171276 $9.5040167192 $8.9042068667 $8.10435744104 $8.8045872592 $10.0037963487 $9.4042669698 $8.20443745111 $8.10483785101 $8.7040971882 $9.7040668085 $8.00454739104 $8.5046872480 $8.8042171363 $9.1040467573 $9.9038765074 $8.9041267674 $10.0040067484 $9.5041870967 $8.5044174888 $9.1040969986 $8.8044371471 $9.3042570194 $8.7044573967 $8.5046774293 $8.5047373771 $8.8043771896 $8.1044571771 $10.0038063965 $10.00415661104 $9.1043069177 $8.60433709100 $9.6039568883 $9.30423695106 $8.2046376193 $8.7043670174 $9.5039465483 $9.5041270882 $9.5041671271 $9.2041971867 $9.7042968199 $9.9040967178 $8.6041570766 $8.5043770992 $9.9041766963 $9.6044170988 $8.50421693101 $8.2043670874 $9.30447723103 $9.1041667671 $10.0041568662 $8.9044773872 $9.0045973278 $9.5042569077 $9.3043268986 $8.1043773366 $8.6042370993 $8.40459723110 $8.4047372995 $9.2043770396 $9.4041368578 $9.6044170966 $9.0041468879 $8.4045575673 $8.7042371372 $8.7041970580 $9.2040870173 $9.9039869072 $8.5042172284 $8.90451746108 $9.2042469368 $9.4041068782 $8.0045072272 $9.90415701104 $8.4046073797 $8.5046476397 $8.9043973197 $9.1043773574 $8.30459766101 $9.80433717100 $8.3043271373 $9.2043171586 $8.9041769675 $9.8038063895 $9.9042369589 $8.6043170386 $8.7045174995 $8.10474739119 $9.3041369166 $8.6043170386 $9.6038765477 $9.7040465877 $9.8042467989 $9.4039166470 $9.4044670798 $9.9042268572 $10.00415665104 $9.9042269889 $8.3046072197 $9.1044473767 $8.3043473287 $8.2043072195 $9.0041168162 $9.1043670478 $9.3043268991 $9.4043068290 $9.9042567998 $9.4040067560 $8.90448725103 $9.6039465587 $8.30434728109 $8.5044874999 $10.0039267198 $8.9040767290 $8.6045374291 $8.5046272483 $9.4041069190 $8.50468738108 $9.0042770798 $9.3044573089 $9.9038266557 $9.40434719104 $9.4042670094 $8.8044874976 $9.0040369964 $9.0041368787 $8.40420727101 $9.8040466473 $8.10483741106 $9.20454725114 $9.1043271065 $10.0038664397 $9.0040266796 $8.1046873989 $9.6040067696 $8.7041970563 $9.0040867986 $8.7045273690 $8.9041071686 $9.7039568759 $9.9043069669 $9.7038867374 $9.3039366867 $8.20473751118 $8.8046571788 $9.7039565187 $8.0043170891 $9.0045271377 $9.6039766695 $8.1044675489 $9.5040868461 $9.8043071469 $8.7041469375 $9.5041867292 $8.50447753103 $9.4040468681 $9.9040866261 $8.0045773682 $9.5042168293 Sheet1 SUMMARY OUTPUT Regression Statistics Multiple R0.7118620803 R Square0.5067476214 Adjusted R Square0.5040669019 Standard Error17.4186729903 Observations186 ANOVA dfSSMSFSignificance F Regression157354.894542923157354.8945429231189.03418689224.74970288741835E-30 Residual18455827.4710484748303.4101687417 Total185113182.365591398 CoefficientsStandard Errort StatP-valueLower 95%Upper 95%Lower 95.0%Upper 95.0% Intercept695.87414329319.490695197435.70288982741.19221131317778E-84657.4201605387734.3281260473657.4201605387734.3281260473 X Variable 1-29.59454400362.1524916525-13.74897039394.74970288741842E-30-33.841282052-25.3478059552-33.841282052-25.3478059552 Sheet2 Sheet3
Apr 04, 2024
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