East West University

Analysis on Apple sales Data

ECO204

Submitted to

Biplob Kumar Nandi

Lecturer
Department of Economics

Submitted by

Name ID Participation (%)

Nafiz Ahmed Nabil 2019-1-10-253 20%

Sabbir Hasan Emon 2018-1-10-277 20%

G M Toufiqur Rahman 2017-1-10-199 20%

Md. Ardia Rabbi 2016-3-10-141 20%

Jannatul Tanha Mim 2019-2-30-036 20%

Section 2

Department of Business Administration

EAST WEST UNIVERSITY

Date of submission: October 2, 2020

 Letter of Transmittal

East West University

A/2, Jahurul Islam Avenue

Jahurul Islam City,
Aftabnagar Dhaka-1212,
Bangladesh Date: 1st

October 2, 2020
Biplob Kumar Nandi
Lecturer
Department of Economics
East West University
Subject: Letter of transmittal for the term paper.

Dear Sir,
It is our pleasure to submit a report based on “Apple sales Data”, as a requirement for the course
curriculum. The purpose of writing this report to find out and analyze how Average Monthly
Sale is dependent on Average Monthly Advertising Cost Average Monthly Visit by People and
Number of Products Under Discount. Writing of this report was a great experience to us. Our
effort will be rewarded only if it adds value to reach literature.

Thank you for your guidance and supervision to fulfill this report.

Sincerely Yours,

Name ID
Nafiz Ahmed Nabil 2019-1-10-253
Sabbir Hasan Emon 2018-1-10-277
Md. Ardia Rabbi 2016-3-10-141
G M Toufiqur Rahman 2017-1-10-199
Jannatul Tanha Mim 2019-2-30-036
 Acknowledgement

All the very beginning, we would like to express our deepest gratitude to Almighty ALLAH for

giving us the strength & the composure to complete this challenging analytical report. Words will

never be enough to express how grateful we are, but never the less we’ll try our level best to

express our gratefulness toward some people.

The report might never be completed without the assistance of numerous articles, websites and

obviously the assistance we have got throughout the semester from our honorable instructor Biplob

Kumar Nandi sir which enhanced the knowledge of the report.

We would like to express our special gratitude to our honorable faculty Biplob Kumar Nandi sir

for his supervision, guidance, co-operation and advices. We’ll be always in debt to him for the

valuable suggestions and the time that he has spent for guiding us throughout this report.
 TABLE OF CONTENTS
Letter of Transmittal ...........................................................................................................................
Acknowledgement ..............................................................................................................................
Executive summary .............................................................................................................................
Introduction ......................................................................................................................................1
1.1 Model Building .............................................................................................................................. 1
1.2 Research Objective and Relevance ............................................................................................... 1
1.3 Interpretation of Mean, Standard Deviation, Skewness and Sample Size ................................... 2
Mean ..................................................................................................................................................... 2
Standard Deviation ............................................................................................................................... 2
Skewness ............................................................................................................................................... 2
Sample Size ........................................................................................................................................... 2
Analysis .............................................................................................................................................3
2.1 Estimate Regression Equation ...................................................................................................... 3
Expected sign ........................................................................................................................................ 3
Interpretation........................................................................................................................................ 3
Regression Statistics (goodness of fit / model fit) ................................................................................ 3
Graphical Proof: of model fitness: All of these graph shows actual & predicted 𝑌 close, almost fitted
so this also indicates that the model is a good fit................................................................................. 4
2.2 Test of Significance ....................................................................................................................... 5
T test: Individual test of significance for 𝑩𝟏𝒙𝟏 .................................................................................... 5
T test: Individual test of significance for 𝑩𝟐𝒙𝟐 .................................................................................... 6
T test: Individual test of significance for 𝑩𝟑𝒙𝟑 .................................................................................... 6
F test: overall test of significance for 𝑩𝟏𝒙𝟏, 𝑩𝟐𝒙𝟐, 𝑩𝟑𝒙𝟑 .................................................................. 7
2.3 Diagnosis of Multicollinearity ....................................................................................................... 7
Checking Multicollinearity .................................................................................................................... 8
The Remedy .......................................................................................................................................... 8
2.4 Residual Analysis ........................................................................................................................... 9
Normality check .................................................................................................................................... 9
Graphical proof: We have found from the normality plot that, over the time the sample percentile
corresponding apple outlet’s sales follows an increasing pattern. We can say, our probability plot
satisfies the normality assumption. [Bell shaped] .............................................................................. 10
2.5 Heteroscedasticity ...................................................................................................................... 11
Conclusion ....................................................................................................................................... 12
References..........................................................................................................................................
 Table of Figures

Table 1: Summary data .................................................................................................................. 1

Table 2: Estimate Regression Equation ......................................................................................... 3
Table 3: Regression Statistics (goodness of fit / model fit) ........................................................... 3
Table 4: T test: Individual test of significance ............................................................................... 5
Table 5: F test: overall test of significance for B_1 x_1,B_2 x_2, B_3 x_3.................................. 7
Table 6: Checking Multicollinearity .............................................................................................. 8
Table 7: Normality checking........................................................................................................ 10

Figure 1: This graph shows actual & predicted 𝒀 is close or almost fitted so it also proves that it
is indeed a good fit model. .............................................................................................................. 4
Figure 2: This graph shows actual & predicted 𝒀 is close or almost fitted so it also proves that it
is indeed a good fit model. .............................................................................................................. 4
Figure 3: This graph shows actual & predicted 𝒀 is close or almost fitted so it also proves that it
is indeed a good fit model ............................................................................................................... 5
Figure 4: Normality plot .............................................................................................................. 10
Figure 5: Residual plot between apple outlet's sales & Average monthly advertising cost ........ 11
Figure 6: Residual plot between apple outlet's sales & Average Monthly visits by people ........ 11
Figure 7: Residual plot between apple outlet's sales & Number of Products under discount ..... 12
 Executive summary

In this report we found out how out and analyze how Average Monthly Sale is dependent on

Average Monthly Advertising Cost, Average Monthly Visit by People and Number of Products

Under Discount. To do so, we did find out the summary data from excel. Then we did analyze the

regression analysis. We found out the correlation, Goodness of fit, residual plot and

heteroscedasticity problem. Then we concluded with our report after thoroughly analyzing all the

data & recommend apple Inc. to open another outlet in the Dhaka city.
 Introduction
There are 50 Apple outlets in Dhaka City. The company is going to open a new outlet. We have
done a market analysis for that Apple Company based on dependent variable average monthly
sale and independent variable average monthly advertising cost, average monthly visit by people
and number of products under discount.

1.1Model Building
Model is built based on research hypothesis. Research hypothesis comes from data. Four kinds of
data were given and they are dependent variable average monthly sale and independent variable
average monthly advertising cost, average monthly visit by people and number of products under
discount.

1.2 Research Objective and Relevance

Since we were given a data set of average monthly sale, our objective is to find how or if average
monthly advertising cost, average monthly visit by people and number of products under
discount matter to the average monthly sales.

Summary Data
Average Average Number
Average monthly Monthly of
monthly Advertising visits by Products
Sale (in Cost (in people under
thousands) Value thousands) Value Value discount Value

Mean 375.42 Mean 24.06 Mean 6030.26 Mean 17.02

Standard
Standard Error 13.92249948 Standard Error 0.436507475 Standard Error 168.1794105 Error 1.421838419
Median 358.5 Median 24 Median 6115 Median 19.5
Mode 309 Mode 21 Mode 6748 Mode 22
Standard Standard Standard Standard
Deviation 98.44693795 Deviation 3.086573954 Deviation 1189.208017 Deviation 10.05391588
Sample Sample Sample
Variance 9691.799592 Sample Variance 9.526938776 Variance 1414215.707 Variance 101.0812245
Kurtosis -1.1463581 Kurtosis -1.078605984 Kurtosis -1.129873365 Kurtosis -1.226047362
Skewness 0.233539489 Skewness 0.284087902 Skewness -0.141608939 Skewness -0.230858404
Range 327 Range 10 Range 3929 Range 32
Minimum 223 Minimum 20 Minimum 4008 Minimum 0
Maximum 550 Maximum 30 Maximum 7937 Maximum 32
Sum 18771 Sum 1203 Sum 301513 Sum 851
Sample Size 50 Sample Size 50 Sample Size 50 Sample Size 50
Table 1: Summary data

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There are four variables:
 Average Monthly Sale (Dependent 𝑌̂)
 Average Monthly Advertising Cost (Independent 𝑏1 )
 Average Monthly Visit by People (Independent 𝑏2 )
 Number of Products Under Discount (Independent 𝑏3 )

1.3 Interpretation of Mean, Standard Deviation, Skewness and Sample Size

Mean:
Average monthly sale would be 375.42 if average monthly advertising cost is 24.06, average
monthly visit by people is 6030.26 and number of products under discount average is 17.02.

Standard Deviation:
Standard deviation shows the fluctuations of variables. Higher the standard deviation more
fluctuation to be expected. It hampers the heteroscedasticity’s property.
Here, Average Monthly Visit by People variable has the highest standard deviation and expected
to be more fluctuating.

Skewness:
Here, all the skewness is positive and less than one (1). That shows mean value is greater than
median value. That shows all the variables are moderately right skewed.

Sample Size:
Sample Size for all the variables are 50.

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 Analysis
2.1 Estimate Regression Equation

Coefficients
Intercept (𝒃𝟎 ) -224.60

Average monthly Advertising Cost(in thousands) (𝒃𝟏 ) 17.14

Average Monthly visits by people (𝒃𝟐 ) 0.03

Number of Products under discount (𝒃𝟑 ) 1.16

Table 2: Estimate Regression Equation

̂ = 𝒃𝟎 + 𝒃𝟏 𝒙𝟏 + 𝒃𝟐 𝒙𝟐 + 𝒃𝟑 𝒙𝟑
𝒀

̂ = −𝟐𝟐𝟒. 𝟔𝟎 + 𝟏𝟕. 𝟏𝟒𝒙𝟏 + 𝟎. 𝟎𝟑𝒙𝟐 + 𝟏. 𝟏𝟔𝒙𝟑

𝒀

Expected sign:
 There might be positive relation between 𝑥1 (average monthly advertising costs) &
𝑌̂ (average monthly sales) coefficient of 𝑥1 is positive.
 There might be positive relation between 𝑥2 (visits) & 𝑌̂ (average monthly sales) as
coefficient 𝑥2 is positive.
 There might be positive relation between 𝑥3 (numbers of products under) & 𝑌̂ (average
monthly sales) as coefficient x3 is positive.

Interpretation:
 𝑏1 = 17.14 indicates that when the advertising cost increases by 1 thousands, the monthly
sales will increase by 17.14 thousands holding other factors (average monthly visits by
people, number of products under discount) constant.
 𝑏2 = 0.03 indicates that when the average monthly visit increases by 1unit, the monthly
sales will increase by 0.03 thousands holding other factors (average monthly advertising
costs, number of products under discounts) constant.
 𝑏3 = 1.16 indicates that when the Number of Products under discount increases by 1unit,
the monthly sales will increase by 1.16 thousands holding other factors (average monthly
visits by people, average monthly advertising costs) constant.

Regression Statistics (goodness of fit / model fit)

Regression Statistics (goodness of fit) Value

Multiple R 0.99
R Square 0.97
Adjusted R Square 0.97
Standard Error 16.30
Observations (sample size, n) 50
Table 3: Regression Statistics (goodness of fit / model fit)

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𝐹𝑟𝑜𝑚 𝑡ℎ𝑒 𝑒𝑥𝑐𝑒𝑙 𝑜𝑢𝑡𝑝𝑢𝑡 𝑤𝑒 𝑔𝑜𝑡, 𝑅 2 = 0.97, meaning that 97% variation sales of apple outlets
explained by average monthly average advertising cost, average monthly visit by people & number
of products under discount. So, the model is a Good Fit as 𝑅 2 value is closer to 1

Graphical Proof: of model fitness: All of these graph shows actual & predicted 𝑌̂ close, almost
fitted so this also indicates that the model is a good fit.

Average monthly Advertising Cost(in thousands) Line

Fit Plot
AVERAGE MONTHLY SALE (IN THOUSANDS)

600

500

400

300

200

100

0
0 5 10 15 20 25 30 35

Average monthly Sale(in thousands) Predicted Average monthly Sale(in thousands)

AVERAGE MONTHLY ADVERTISING COST(IN THOUSANDS)

̂ is close or almost fitted so it also proves that it is indeed a good fit model.
Figure 1: This graph shows actual & predicted 𝒀

Number of Products under discount Line Fit Plot

600
AVERAGE MONTHLY SALE (IN THOUSANDS)

500

400

300

200

100

0
0 5 10 15 20 25 30 35

Average monthly Sale(in thousands) Predicted Average monthly Sale(in thousands)

NUMBER OF PRODUCTS UNDER DISCOUNT

̂ is close or almost fitted so it also proves that it is indeed a good fit model.
Figure 2: This graph shows actual & predicted 𝒀

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 Average Monthly visits by people Line Fit Plot
600
AVERAGE MONTHLY SALE (IN THOUSANDS)

500

400

300

200

100

0
0 1000 2000 3000 4000 5000 6000 7000 8000 9000

Average monthly Sale(in thousands) Predicted Average monthly Sale(in thousands)

AVERAGE MONTHLY VISITS BY PEOPLE

̂ is close or almost fitted so it also proves that it is indeed a good fit model
Figure 3: This graph shows actual & predicted 𝒀

2.2 Test of Significance

[T test: Individual test of significance]
Standard t P
Coefficients Error Statistics value
Intercept (bo) -224.60 81.73 -2.75 0.01
Average monthly Advertising Cost(in thousands)
(b1) 17.14 4.01 4.28 0.00
Average Monthly visits by people (b2) 0.03 0.02 1.19 0.24
Number of Products under discount (b3) 1.16 2.32 0.50 0.62
Table 4: T test: Individual test of significance

T test: Individual test of significance for 𝑩𝟏 𝒙𝟏

First of all, we want to test the positive relationship between Average monthly advertising cost &
sales of apple outlets is statistically significant or not.

Hypothesis:
 𝑯𝟎 : 𝑩𝟏 = 0 [we expect that there is no positive relation between Average monthly
advertising cost & sales of apple outlets]
 𝑯𝒂 : 𝑩𝟏 ≠ 0 [we expect that there is a positive relation between Average monthly
advertising cost & sales of apple outlets]

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T test:
From the excel output we got,
 Probability value approach: t probability value is 0.00 < 0.05 [alpha] we reject the null
means its statistically significant at 1% & 5% level
 Critical value approach: t statistics value [which is 4.28] > t α/2, (n-4) [which is 3.515]
we reject the null means it’s statistically significant.
So, we can say the positive relationship between Average monthly advertising cost & sales is
statistically significant. We can further use the model for prediction purpose.

T test: Individual test of significance for 𝑩𝟐 𝒙𝟐

Then, we want to test if the positive relationship between Average Monthly visits by people &
sales of apple outlets is statistically significant or not.

Hypothesis:
 𝑯𝟎 : 𝑩𝟐 = 0 [we expect that there is no + relation between Average Monthly visits by people
& sales of apple outlets]
 𝑯𝒂 : 𝑩𝟐 ≠ 0 [we expect that there is a + relation between Average Monthly visits by people
& sales of apple outlets]

T test:
From the excel output we got,
 Probability value approach: t probability value is 0.24> 0.05 [alpha] we can’t reject the
null means it’s not statistically significant
 Critical value approach: t statistics value [which is 1.19 < t α/2,(n-4) [which is 3.515] we
can’t reject the null & it’s not significant at 1 or 5% level
So we can say the positive relationship between Average monthly visits by people & sales is not
statistically significant. We can't further use the model for prediction purpose without fixing the
error.

T test: Individual test of significance for 𝑩𝟑 𝒙𝟑

Finally, we want to test if the positive relationship between Number of Products under discount &
sales of apple outlets is statistically significant or not.

Hypothesis:
 𝑯𝟎 : 𝑩𝟑 = 0 [we expect that there is no + relation between Number of Products under
discount & sales of apple outlets]
 𝑯𝒂 : 𝑩𝟑 ≠ 0 [we expect that there is a + relation between Number of Products under discount
& sales of apple outlets]

T test:
From the excel output we got,
 Probability value approach: t probability value is 0.62 > 0.05 [alpha] we can’t reject the
null means it’s not statistically significant & it’s not significant at 5% level

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  Critical value approach: t statistics value [which is 0.50 < t α/2, (n-4) [which is 3.515]
we can’t reject the null.
So we can say the positive relationship between Number of Products under discount & sales is not
statistically significant. We can't further use the model for prediction purpose without fixing the
error.

F test: overall test of significance for 𝑩𝟏 𝒙𝟏 , 𝑩𝟐 𝒙𝟐 , 𝑩𝟑 𝒙𝟑

ANOVA Value Value Value Value Value

df SS MS F Significance F (probability of F)
Regression (SSR) 3 462677.82 154225.94 580.54 0.00
Residual (SSE) 46 12220.36 265.66
Total (SST) 49 474898.18
Table 5: F test: overall test of significance for B_1 x_1, B_2 x_2, B_3 x_3

Hypothesis:
 𝑯𝟎 : 𝑩𝟏 = 𝑩𝟐 = 𝑩𝟑 = 0 [Meaning, Sales of apple outlets are jointly explained by Average
Monthly Advertising Cost, Average Monthly Visits by people & number of products under
discount]
 𝑯𝒂 : 𝑩𝟏 ≠ 𝑩𝟐 ≠ 𝑩𝟑 ≠ [Meaning, Sales of apple outlets are not jointly explained by Average
Monthly Advertising Cost, Average Monthly Visits by people & number of products under
discount]

F stat:
From the excel output we got,
 Probability value approach: F probability value is 0.00 < 0.05 [alpha] we reject the null
 Critical value approach: F statistics [which is 580.54] > Fα,(n-4) [which is 2.81]
statistically significant at 5% level
So, that means that null hypothesis is rejected as well as the Average monthly advertising cost,
average monthly visits by people & number of products under discount are jointly significant. This
model is overall significant.
Moreover, as we have multicollinearity problem so we are experiencing an increased F value
[which is 580.54] along with an increased 𝑅 2 value & SSR. On the other hand we got x2 & x3
insignificant because of that.

2.3 Diagnosis of Multicollinearity

From the t test of individual significant we’ve found out that, 𝑏2 & 𝑏3 insignificant. As a result, in
a pursue for remedy of this issue we are going to check if there is any multicollinearity problem
exists among the independent variables (average monthly advertising expense, average monthly
visit by customers & number of products under discount) or if they are strongly correlated to each

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other & if the problem exists then using this model we cannot determine the separate effect of any
particular independent variable on the dependent variable (average monthly sales)

Checking Multicollinearity:
From the correlation result, we have found out that, Average Average
coefficient among independent variables are more monthly Monthly Number of
than 0.7 as (0.98, 0.97, 0.99 >0.70) or all of the Advertising visits by Products
independent variables are highly correlated to each Cost people under
other. discount

Average monthly Advertising Cost 1

Average Monthly visits by people 0.98 1

Number of Products under discount 0.97 0.99 1

Table 6: Checking Multicollinearity

So we've found multicollinearity problem here. Moreover, we have experienced an increased

𝑅 2 value, increased independent variables as well as an increased SSR value.

The Remedy:
 We can't reduce the insignificant variable x2 (average monthly visit by people) & x3
(number of products under discount) even though they are insignificant. Because these two
variables are inseparable parts of sales of apple outlets. As we know until visits the stores
then in store sales of apple products can’t be possible. Also, products under discount has a
major shift in customers buying behavior as they rush in the store to grab the discounted
items & in the case of apple products discount the impact is much more higher. Also, we
will lose the goodness of fit as the value of 𝑅 2 will be reduced.

 We can increase the sample size if we can collect but only if there are more apple outlets
data available. Because if there are only 50 apple outlets available in the Dhaka City &
then there is no way we can get more samples until we consider outside Dhaka City outlets
but in that case the focus of our analysis will be diverted as we only want to know about
Dhaka City at the moment.

 Finally, the only possible option we have on our hand is to use proxy variables. We can
add variables like average number of monthly apple website visit by local people, average
number of monthly apple products added to cart by website visitors or even dummy
variables like number of outlets in Gulshan, Baridhara DOHS (areas where inhabitant's
average monthly incomes are high) -- Ultimate solution

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 2.4 Residual Analysis

Normality check

Predicted Average monthly

Observation Sale(in thousands) Residuals Standard Residuals
1 415.71 -0.71 -0.04
2 351.58 -0.58 -0.04
3 287.21 7.79 0.49
4 518.84 -0.84 -0.05
5 281.12 -7.12 -0.45
6 437.09 2.91 0.18
7 546.40 1.60 0.10
8 410.12 -28.12 -1.78
9 526.07 9.93 0.63
10 284.20 8.80 0.56
11 517.59 -4.59 -0.29
12 527.59 16.41 1.04
13 472.44 15.56 0.99
14 230.22 8.78 0.56
15 441.23 34.77 2.20
16 447.60 29.40 1.86
17 323.62 17.38 1.10
18 269.48 -1.48 -0.09
19 438.71 23.29 1.47
20 498.18 1.82 0.12
21 229.85 -4.85 -0.31
22 547.71 2.29 0.14
23 240.21 7.79 0.49
24 356.29 -4.29 -0.27
25 374.69 -21.69 -1.37
26 314.95 -5.95 -0.38
27 243.66 9.34 0.59
28 267.30 -1.30 -0.08
29 380.46 -19.46 -1.23
30 324.01 21.99 1.39
31 378.80 -22.80 -1.44
32 435.60 -6.60 -0.42
33 433.13 -15.13 -0.96
34 281.59 -6.59 -0.42

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 35 437.12 15.88 1.01
36 405.25 -43.25 -2.74
37 436.76 -4.76 -0.30
38 245.10 18.90 1.20
39 234.67 6.33 0.40
40 315.48 -3.48 -0.22
41 414.65 -31.65 -2.00
42 229.77 -6.77 -0.43
43 307.33 1.67 0.11
44 414.76 -10.76 -0.68
45 284.79 9.21 0.58
46 499.37 7.63 0.48
47 471.24 8.76 0.55
48 349.30 -2.30 -0.15
49 409.29 -35.29 -2.23
50 282.85 2.15 0.14
Table 7: Normality checking

We found out that, more than 85% of the standard residuals lies between the ranges of -2 to +2, so
we can say that this model satisfies the normal distribution
Normal Probability Plot
600
Average monthly Sale(in thousands)

500

400

300

200

100

0
0 20 40 60 80 100 120
Sample Percentile

Figure 4: Normality plot

Graphical proof: We have found from the normality plot that, over the time the sample percentile
corresponding apple outlet’s sales follows an increasing pattern. We can say, our probability plot
satisfies the normality assumption. [Bell shaped]

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 2.5 Heteroscedasticity
Residual plot between apple outlet's sales & Average monthly advertising
cost
40.00
30.00
20.00
10.00
Residual

0.00
-10.00
-20.00
-30.00
-40.00
-50.00
Average monthly advertising cost

Figure 5: Residual plot between apple outlet's sales & Average monthly advertising cost

 Now, analyzing figure 5 plot we have found out that the variance of residual is the same
for all values of 𝑥1 (Average monthly advertising cost) & the assumed regression model is
an adequate representation of the relationship between the variable as the residual plot
gives an overall impression of a horizontal band of points even though it doesn’t look so
perfect but it is close to in horizontal pattern.
Residual plot between apple outlet's sales & Average Monthly visits by
40.00 people
30.00
20.00
10.00
Residual

0.00
-10.00
-20.00
-30.00
-40.00
-50.00
Average Monthly visits by people

Figure 6: Residual plot between apple outlet's sales & Average Monthly visits by people

 After that, analyzing Figure 6 plot we have found out that the variance of residual is the
same for all values of 𝑥2 (Average Monthly visits by people) & the assumed regression
model is an adequate representation of the relationship between the variable as the residual
plot gives an overall impression of a horizontal band of points which is more in horizontal
form than the previous plot.

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 Residual plot between apple outlet's sales & Number of Products under
discount
3.00

2.00

1.00
Resiual

0.00

-1.00

-2.00

-3.00
Number of Products under discount

Figure 7: Residual plot between apple outlet's sales & Number of Products under discount

 Finally, After analyzing Figure 7 plot we have found out that the variance of residual is
the same for all values of 𝑥3 (Number of Products under discount) & the assumed
regression model is an adequate representation of the relationship between the variable as
the residual plot gives a good overall impression of a horizontal band of points which more
in horizontal form than last two plots. (Williams, December 1, 2001)

Conclusion
From our data we have learned that, as the average monthly visit increases, the monthly sales also
increase. We have also found that, the increase in volume of advertising cost also increases average
monthly sales. Along with that, when the number of Products under discount increases, the
monthly sales will increase too.
Though we found error while doing T statistics, after doing F statistics we can conclude that
average monthly advertising cost, average monthly visits by people & number of products under
discount are jointly significant and have a positive relation with the volume of sales. Still there
was multicollinearity problem. So to fix that we used proxy variables like average number of
monthly apple website visit by local people, average number of monthly apple products added to
cart by website visitors or even dummy variables like number of outlets in areas where inhabitant's
average monthly incomes are high.
After that, using the normality plot we have found that as the number of apple outlet increases, the
number of sales follows an increasing pattern with that.
So finally after thoroughly analyzing all the data, we would recommend apple Inc. should open
another outlet in the heart of Dhaka city.

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 References
Williams, S. &. (December 1, 2001). Statistics for Business and Economics by Anderson. South-

Western Pub.