Please only post a topic once. I deleted your other thread. Thank you.
Hi,
I am hoping someone can help me understand something. I have the following multiple regression equation (note thse numbers are just an example and not the actual equation).
Forecasted sales = 2000+17(x1)+65(X2)-34(x3)
Sales is forecasted in 1000's.
x1 = sq feet
x2 = % of people with no cars
x3 = gender
my values are:
x1 = 120
x2 = 44%
x3 = male (0)
My problem is i don't understand how i can use the % of people with no cars in this equation? Would I do .65(.44) or would it be 65%(44%)? I understand that we are saying for each additional percentage we can expect sales to increase by 65%. Can someone please help me understand how to figure this out?
Thank you.
Please only post a topic once. I deleted your other thread. Thank you.
I don't have emotions and sometimes that makes me very sad.
Sorry about that, I posted in the other thread and then realized there was a sep. regression thread. My apologies.
No worries.
To answer your question... we can't answer your question. It entirely depends on if the variable was coded with 44% as .44 or if it was coded as 44 when the model was fit. This isn't information we have. Regardless the 66 will stay as a 66 though so it will either be 66*(.44) or 66*(44)
My guess would be that it was coded with 44% as 44 though.
I don't have emotions and sometimes that makes me very sad.
abe333200 (11-02-2013)
I attached my actual data, I apologize I should have done this before but I wasn't sure if it was frowned upon. Was my interpretation for that variable correct? For each additional percentage we would expect sales to increase by 65%? The reason I ask is because when solving my equation I'm not sure if I should simply add up my data and that is my forecasted sales, or if I should add up my data excluding the percentage, then multiply my forecasted sales by that percentage, and add that amount to my sales. Thanks again for the help I really appreciate it.
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