Multiple Regression. Maastrict Controls, Ltd., is a regional producer of sophisticated precision control devices. To assess the potential payoff to adopting the recommendations of a Total Quality Management (TQM) seminar attended by managerial staff, the company has decided to analyze the sales effects of price and product quality for a range of leading products. The company recently compiled and used a regression analysis approach to study the following unit sales, price, and product quality information:
As a first step in the analysis, the company ran simple regressions of unit sales on each of the potentially important independent variables of price and the percent failure rate (product quality):
SALES = 220440 - 35980 PRICE
SALES = 178434 - 56659 PRICE + 115808 FAILURE
Correct Answer:
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