Marketing Research, Fall 2016.

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Marketing Research, Fall 2016Assignment 3SPSS CaseYou can locate the database on the Blackboard: Assignments-> Assignment 3-> BIOBLANCDue Date is Wednesday, 30 November 2016 (at the beginning of class)Barossa Winery is a major wine producer company in the region of South Australia. The company wouldlike to forecast the sales of one of its products, BIOBLANC (a top quality white wine). Data werecollected during the 30 previous periods (where on period comprises 4 consecutive weeks).The data concern the 4 following variables:Y denotes the total demand for this product ( in 10,000 one-liter bottles)X1denotes the price of the product (1-liter bottle) during the periodX2denotes the average price of the competing products during the periodX3denotes the advertising budget (in 1,000 euros) spent on BIOBLANC during the periodQuestions1. Use simple linear regression to estimate the relationship between the dependent variable Y and eachof the 3 independent variables. Which of these relationships is "best" for predicting the sales in period31?2. Can you improve the model using multiple regression? (Hint: other variables can be considered; X4=X2-X1; X5=((X2-X1)/X1)x100; and X6=X23). Which model do you propose?3. Based on results for question2, estimate the total demand for BIOBLANC if, for period 31, X1=$39,X2=$40, and X3=$50K.The small Database is printed on next page
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