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if determining significant variables for profit, how do i determine which are significant and which arent?...

if determining significant variables for profit, how do i determine which are significant and which arent? These are the options.

store Sales Profit MTenure CTenure Pop Comp Visibility PedCount Res Hours24 CrewSkill MgrSkill ServQual
Math   Statistics-And-Probability   
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Answer #1

For determining the profit, we need to consider certain factors such as sales, store, etc.

We can apply the linear regression model in the case of profit vs other variables. We can determine the significant variables by calculating the correlation coefficient between them.

The correlation coefficient tells about the linear relationship between any two variables.

The variables with the good correlation coefficient can be termed as significant, others can be termed as insignificant.

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