I have two compare a few independent variables (prices, complements, seasonal index, time period, dummy variables) against a dependent variable (volume of sales) , create a model and then report on my findings.
Just confused at the minute though. The price is given as price per 100g and the volume of sales is given as tonnes.
So i ran a regression analysis on excel and got the coefficient -0.364 (P). my model at this point is Y(t) = 6.75326 + 0.00553 (T) + 0.06999 (SI) - 0.92841 (D) - 0.36423 (Pt) + 0.
t=time period which increase monthly
si = seasonal index
d= dummy variable where 1 is disease,0 no disease
pt= price of our product
just confused on how to interpret the coefficient of Pt cause of the fact that its the price per 100g which goes on to vary the volume of sales in tonnes.
does this have any affect on the model. please explain. thanks
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