11 Nov Chapter 7 Case Problem 2: Consumer Research, Inc.?? If using Excel or Minitab for your calculations, charts, and graphs, please copy and paste your work into the Word document.? Do not
– In a single Word document, complete Chapter 7 Case Problem 2: “Consumer Research, Inc.” If using Excel or Minitab for your calculations, charts, and graphs, please copy and paste your work into the Word document. Do not attach Excel or Minitab as separate documents.
- response should be a minimum of 2-3 pages . The font is Times New Roman, font size should be 12, and the paragraphs are single-spaced. There should be a minimum of one reference supporting your observations. Citations are to follow APA 7.0. double space.
– no plagiarism, need plagiarism report
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Chapter 7: Linear Regression: Case Problem 2 Consumer Research, Inc. Book Title: Business Analytics Printed By: Jigar Jitendrak Patel ([email protected]) © 2021 Cengage Learning, Cengage Learning
Chapter Review
Case Problem 2 Consumer Research, Inc.
Consumer Research, Inc., is an independent agency that conducts research on consumer attitudes and behaviors for a variety of firms. In one study, a client asked for an investigation of consumer characteristics that can be used to predict the amount charged by credit card users. Data were collected on annual income, household size, and annual credit card charges for a sample of 50 consumers. The following data are contained in the file Consumer.
Income ($1000s)
Household Size
Amount Charged ($)
Income ($1000s)
Household Size
Amount Charged ($)
54 3 4016 54 6 5573
30 2 3159 30 1 2583
32 4 5100 48 2 3866
50 5 4742 34 5 3586
31 2 1864 67 4 5037
55 2 4070 50 2 3605
37 1 2731 67 5 5345
40 2 3348 55 6 5370
66 4 4764 52 2 3890
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Income ($1000s)
Household Size
Amount Charged ($)
Income ($1000s)
Household Size
Amount Charged ($)
51 3 4110 62 3 4705
25 3 4208 64 2 4157
48 4 4219 22 3 3579
27 1 2477 29 4 3890
33 2 2514 39 2 2972
65 3 4214 35 1 3121
63 4 4965 39 4 4183
42 6 4412 54 3 3730
21 2 2448 23 6 4127
44 1 2995 27 2 2921
37 5 4171 26 7 4603
62 6 5678 61 2 4273
21 3 3623 30 2 3067
55 7 5301 22 4 3074
42 2 3020 46 5 4820
Source: Consumer Research, Inc. (https://www.bbb.org/us/ny/rochester/profile/secret-shopper/consumer-
research-inc-0041-45625697)
Managerial Report
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1. Use methods of descriptive statistics to summarize the data. Comment on the findings.
2. Develop estimated regression equations, first using annual income as the independent variable and then using household size as the independent variable. Which variable is the better predictor of annual credit card charges? Discuss your findings.
3. Develop an estimated regression equation with annual income and household size as the independent variables. Discuss your findings.
4. What is the predicted annual credit card charge for a three-person household with an annual income of $40,000?
5. Discuss the need for other independent variables that could be added to the model. What additional variables might be helpful?
Chapter 7: Linear Regression: Case Problem 2 Consumer Research, Inc. Book Title: Business Analytics Printed By: Jigar Jitendrak Patel ([email protected]) © 2021 Cengage Learning, Cengage Learning
© 2022 Cengage Learning Inc. All rights reserved. No part of this work may by reproduced or used in any form or by any means – graphic, electronic, or mechanical, or in any other manner – without the written permission of the copyright holder.
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