Business, 21.09.2020 22:01 zoey1223

We are considering launching a new product and wish to know whether it will be a success or a failure. We collect data on 20 similar products that were previously launched. For each product we have recorded whether it was a success or failure, price charged for the product, marketing budget, competition price, and ten other variables. Describe a statistically-principled approach to predicting the sales volume of the new product. Your model should account for the fact that sales volumes are non-negative. Include a description of the model, the procedure to fit the model, and how the model will be used to predict the success or failure of the product. . For each ded its sales volume, price charged for the product, marketing budget.

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