Question

We have three price points and three product colors and we have randomly assigned combinations of price points and colors to focus groups who have rated them on how likely they would be to purchase them. What is the simplest test we could use to see if there is any impact of price point, color, or the interaction?

Answer 1

Multiple  Regression Analysis is the technique used o see if there is any impact of price point, color, or the interaction

Step-by-step explanation:

• Multiple regression  is a statistical technique which is used to predict the value of a variable  based on the values of the two or more variables.

• In the above example we want to predict the Purchase value depending upon the value of the price points and the value of the product colors.