The selection of candidate independent variables for a regression model to forecast motel occupancy requires input from knowledgeable marketing personnel.

Question

Quizplus · Accepted Answer

Motel occupancy is closely tied to marketing efforts and strategies. Thus, marketing personnel who are familiar with the industry and consumer behavior can provide valuable insights into the factors that influence motel occupancy. These factors could include location, pricing, amenities, promotions, and competitors, among others. Therefore, their input is essential in selecting relevant independent variables for a regression model that can accurately forecast motel occupancy.

The Selection of Candidate Independent Variables for a Regression Model