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The analyst expanded his analysis and SAS produced the following regression function. Y = 6.21 + 1.03 X₁ + 41.3 X₂ + 22.7 X3 -0.703 X₁X₂ - 0.510X₁X3. 5.1. Why would he have interaction terms in the fitted response?

The analyst expanded his analysis and SAS produced the following regression function. Y = 6.21 + 1.03 X₁ + 41.3 X₂ + 22.7 X3 -0.703 X₁X₂ - 0.510X₁X3. 5.1. Why would he have interaction terms in the fitted response?

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.5: Comparing Sets Of Data
Problem 26PFA
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5. A gift card company has about 10 different coloured cards for sale. Since the colouring process is expensive they want reduce the number of colours. In order to decide which colour to be used they piloted as study by taking the NUMBER (X₁) of a COLOUR X₂ that sell the most and the REVENUE from different outlets. Partial Data Set n = 36. They chose blue, pink and green cards for the study. Revenue 78.8 73.8 64.6 = 97.6 84.4 70.5 Number 100 150 69 79 140 120 Colour P B G G P B X₁ = NUMBER of coloured cards sold X₂ Ŷ = REVENUE recorded in x R1000.00 COLOUR: P = pink, B = blue and G = green The analyst expanded his analysis and SAS produced the following regression function. Ŷ = 6.21 + 1.03 X₁ + 41.3 X₂ + 22.7 X3 -0.703 X₁X₂ - 0.510X₁X3. 5.1. Why would he have interaction terms in the fitted response?
Transcribed Image Text:5. A gift card company has about 10 different coloured cards for sale. Since the colouring process is expensive they want reduce the number of colours. In order to decide which colour to be used they piloted as study by taking the NUMBER (X₁) of a COLOUR X₂ that sell the most and the REVENUE from different outlets. Partial Data Set n = 36. They chose blue, pink and green cards for the study. Revenue 78.8 73.8 64.6 = 97.6 84.4 70.5 Number 100 150 69 79 140 120 Colour P B G G P B X₁ = NUMBER of coloured cards sold X₂ Ŷ = REVENUE recorded in x R1000.00 COLOUR: P = pink, B = blue and G = green The analyst expanded his analysis and SAS produced the following regression function. Ŷ = 6.21 + 1.03 X₁ + 41.3 X₂ + 22.7 X3 -0.703 X₁X₂ - 0.510X₁X3. 5.1. Why would he have interaction terms in the fitted response?
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