Trader Food Cooperative (TFC) is a member-owned local business that conveniently provides fresh, natural grocery
items of the highest quality and best value to its members. Over the past few quarters, the board of directors for TFC has noticed a drop off in the average household amount spent on groceries each visit.
To better understand the current market, a direct mail survey was sent to the over 2,500 households within a 15-mile radius of TFC.
The data set is attached. Descriptions of the variables are provided below.
- Food Exp: Avg. household amount spent on groceries each visit at any brick and mortar grocery store, in US dollars
- Shopping LH: Likelihood of shopping at TFC; measured using a seven point Likert Scale (1=very unlikely, 7=very likely)
- HH Size: Number of persons living in household
- HH Inc: Household income received prior year, in $K
- Highest Ed Head: Highest level of educational attainment for the head of household
- Age Head: Age ranges of the head of household in years
- Shopping Time: Avg. amount of time spent each week shopping for groceries in a brick and mortar grocery store, in minutes
- Kid <6: One or more children in household less than 6 years old
- Kid 6-18: One or more children in household 6-18 years old
- Eating Healthy: Response to question "Eating healthy, nutritious food is important to me." Measured using seven point Likert scale: 1=strongly disagree, 7=strongly agree
TFC has approached you to analyze the data and provide guidance on what they should do to increase the average household amount spent on groceries each visit.
I was supposed to use multiple regression for my analysis. How do I interpret the results of multiple regression and make a recommendation on what would increase average household amount spent on groceries each visit? The a picture of the Excel output is attached.