Interpretation of coefficients
The following table displays part of the output of the multiple linear regression model of the sales of this month on various independent variables.
Estimate | Std. Error | t value | Pr(>|t|) | |
---|---|---|---|---|
(Intercept) | -282.83 | 10.07 | -28.08 | 0.00 |
nItems | 0.15 | 0.02 | 7.02 | 0.00 |
nCats | -0.96 | 0.20 | -4.90 | 0.00 |
nPurch | 0.51 | 0.15 | 3.36 | 0.00 |
salesLast3Mon | 0.38 | 0.01 | 44.60 | 0.00 |
daysSinceLastPurch | 0.17 | 0.15 | 1.12 | 0.26 |
meanItemPrice | 0.23 | 0.09 | 2.46 | 0.01 |
meanShoppingCartValue | 0.26 | 0.03 | 9.86 | 0.00 |
customerDuration | 0.57 | 0.01 | 79.71 | 0.00 |
Take a look at the line for the meanItemPrice
. If we assume a level of significance of 0.05, which of the following is true? Note that all other variables are held constant. Make sure you choose the best answer.
This exercise is part of the course
Machine Learning for Marketing Analytics in R
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