Question

If a franchise company wanted to determine the next best location for a store, theymight run a regression with which independent variables from current locations?

Answer 1

If we want to make a regression to determine where to put the new location we can choose the regression independent variables as the nearby population and local average income. This variables will determine if more people with more income tend to buy more from the store. Then we can choose a location with both or one of the variables.