BookmarkSubscribeRSS Feed
🔒 This topic is solved and locked. Need further help from the community? Please sign in and ask a new question.
laurenhosking
Quartz | Level 8
I have three variables volume, price and units sold. How would I go about investigating the relationship between them.
I would like to use an exploratory analysis and was thinking maybe some sort of regression could work?
1 ACCEPTED SOLUTION

Accepted Solutions
PaigeMiller
Diamond | Level 26

I would start with a correlation analysis, and a scatterplot matrix of the 3 variables. Principal Components is another tool that would work here.


Regression is only appropriate if you have one or more dependent variables (also called "response" variables) and one or more independent variables (also called "predictor" variables). It's not clear to me that any of your variables is a dependent variable.

--
Paige Miller

View solution in original post

1 REPLY 1
PaigeMiller
Diamond | Level 26

I would start with a correlation analysis, and a scatterplot matrix of the 3 variables. Principal Components is another tool that would work here.


Regression is only appropriate if you have one or more dependent variables (also called "response" variables) and one or more independent variables (also called "predictor" variables). It's not clear to me that any of your variables is a dependent variable.

--
Paige Miller

Ready to join fellow brilliant minds for the SAS Hackathon?

Build your skills. Make connections. Enjoy creative freedom. Maybe change the world. Registration is now open through August 30th. Visit the SAS Hackathon homepage.

Register today!
What is ANOVA?

ANOVA, or Analysis Of Variance, is used to compare the averages or means of two or more populations to better understand how they differ. Watch this tutorial for more.

Find more tutorials on the SAS Users YouTube channel.

Discussion stats
  • 1 reply
  • 1000 views
  • 1 like
  • 2 in conversation