Company Manufactures Tablets Information Variables Impact Demand Tablets Variables Include Q34223579

A company that manufactures tablets has information about thevariables that impact the demand for its tablets. The variablesinclude household income, price of substitute products, age,gender, education level, marital status, and number of children.Which statistical technique would be the most appropriate topredict the quantity demanded for its tablets? Why

Expert Answer

The statistical technique that will be the most appropriate topredict the quantity demand for its tablets will be ‘regressionanalysis. In this case, the dependent variable is the demand forthe tablets while the independent variables are household income,the price of substitute products, age, gender, education level,marital status, and the number of children.