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(i) Report the summary statistics of the quantitative variables selected as determinants of success of a motor vehicle showroom. Briefly explain the distributions of these variables and what these tell you about the underlying data.

16 / 01 / 2019 Statistics

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You randomly select 50 show rooms of the motor company located at various states of Australia and record the value of each of the variables listed above plus annual gross revenue (REVENUE). This data is provided in the file Assignment.data.  
(i) Report the summary statistics of the quantitative variables selected as determinants of success of a motor vehicle showroom. Briefly explain the distributions of these variables and what these tell you about the underlying data.                 (4 marks) 
(ii) Represent the regression model you want to estimate and provide clear justification of your preferred estimation method of the model.  (4 marks) 
(iii)  Report your estimated model and explain how PEOPLE, INCOME, COMPTORS,  PRICE and DIST affect the dependent variable. (5 marks) 
(iv) Which independent variable(s) significantly explain the dependent variable? Show your work.        (4 marks) 
(v) Rewrite your estimated model with the coefficient estimates upto eight decimal points, wherever appropriate and as per your estimated regression output from excel. Now based on your estimated model, predict the gross annual revenue of a showroom of the company located 8 km far from the CBD and for the mean values of the variables PEOPLE, INCOME, COMPTORS and PRICE. What do you observe?       (4 marks) 
(vi) What is the coefficient of determination adjusted for degrees of freedom (𝑹 ̅𝟐)? What do this statistics tell you about the regression equation?                (3 marks) 
(vii) If the manager tells you to use a completely different set of variables that could potentially explain sales revenue, how would you defend your current selection of the variables? Clearly show all required steps involved in the process of justifying your inference.                      (6 marks)       
[Notes:  This is an individual assignment. You need to submit your assignment online on the CloudDeakin by the due date. As a policy of the department, late submissions will not be marked except for unusual circumstances with prior approval granted. Only one main file per student is acceptable. You need to upload word document only and not pdf files. Any spreadsheet (Excel) output must be included in the main word


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