MKT524 Case 2 - Suppose you have collected the following

MKT524 Case 2

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?