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.

Customer lifetime value in CRM

Create Your Free Account