Assume that you are interested in understanding the relationship between your sa

Question

Assume that you are interested in understanding the relationship between your sales (S) and the consumers income (Y). If you are to use a simple regression model to understand this relationship, you will choose the dependent variable to be ______ and the independent variable to be ______.
A. Sales (S), consumers income (Y) B. Consumers income (Y), sales (S) C. Sales (S), price of your product (P) D. Price of your product (P), sales (S) Assume that you are interested in understanding the relationship between your sales (S) and the consumers income (Y). If you are to use a simple regression model to understand this relationship, you will choose the dependent variable to be ______ and the independent variable to be ______.
A. Sales (S), consumers income (Y) B. Consumers income (Y), sales (S) C. Sales (S), price of your product (P) D. Price of your product (P), sales (S)
A. Sales (S), consumers income (Y) B. Consumers income (Y), sales (S) C. Sales (S), price of your product (P) D. Price of your product (P), sales (S)

Explanation / Answer

If we need to understand how our sales is related to the income of our consumers, we will choose the dependent variable to be Sales(S) and independent variable to be consumers income(Y), since we want to know how are our sales getting impacted by consumers income.

So option A is correct.

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