MKT524 Case 2 – Suppose you have collected the following
MKT524 Case 2
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Suppose you have collected the following sample data from twenty-six randomly selected Dallas area families regarding their Weekly Expenditures on Video Rentals and Weekly Expenditures on Dining Out:
Observation Number Weekly Expenditures
Video Rentals Dining Out
1 $12 $28
2 $12 $27
3 $6 $32
4 $13 $32
5 $7 $25
6 $10 $24
7 $8 $27
8 $4 $20
9 $4 $32
10 $13 $35
11 $5 $30
12 $9 $22
13 $12 $31
14 $9 $25
15 $12 $28
16 $4 $34
17 $14 $36
18 $10 $24
19 $5 $29
20 $18 $42
21 $15 $41
22 $6 $26
23 $6 $28
24 $4 $40
25 $11 $21
26 $9 $24
Explain your answers below in detail (use analytical tools such as correlation and regression when necessary)
Q1: What is the relationship between weekly expenditures of video rentals and dining out?
Q2: If you were to reach out to these households, what other data would you be interested in collecting in order to understand their consumption behavior?
Q3: What other types of products do you think these families would be interested in?
Explanation & Answer
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