Mainland China — Sales Predictio ind beer is 1. Inform: n on cost of a rice bow! ( veg, soup and fried rice combo J, sales of rice bowl, Pe mentioned in the data set Mainland China.xlsx 2. Find the relationship between price of rice bowl and the no of bowls sold . 3, Interpret the equation as found by solving the previous question 4, What will be the sales of rice if the price is $4? 5. Compute the errors and find the average error . 6. What leads to positive and negative errors ? 7. What proportion of the variation in sales is explained by the variation in price 8 What explains the unexplained variation 9. What is a good R? 110. How will you measure the accuracy of your predictions ? 11. What % of predictions are wi 1 std error of the regression line . 12. Are there any outlie your model ? 13, Prepare a correlation matrix to find the relationship between all possible pairs .Economist- Pocket World Data Your goal is to set sales targets for sales guys based on their regions, using Economist Pocket World.xlsx Run a multiple regression model using the given data set. Use all inputs as independent variables What is HO and HI for the F test result . Interpret the results from Step 2. — ANOVA , Coefficients and Error Tables. Comment on your model accuracy. Which variables are significant ? How many variables are not significant ? Remove the outliers and rerun the regression. Does your model equation change ? Are there any more outliers? How do you handle them now ? Pe Nor re Np Rerun the regression by removing the insignificant variables . 10. Interpret the final regression equation. Comment on the skewness & kurtosis of the error term 11. How will you now set the sales target ( what variable you need to know to answer this) ? 12, Assume a value for the missing variable for one of the countries UK and find the corresponding sales quota. 13. The GNP per capita for Ivory coast is $1100 and the country spends 20 % on education. How will you use your model in this situ: n?