Predict the sales of New-energy Vehicle using linear regression analysis

Abstract

New-energy Vehicle is a new form of vehicle that uses environmental friendly energy and becomes a popularity in recent years. It is important for both the consumers and the producers to search for factors that might affect the sales of New-energy Vehicle. In this study, three linear regression models are examined to determine factors that have significant effect on sales of New-energy Vehicle. ANOVA analysis is conducted to test the model validity and to compare the effect of the three models obtained. Result shows that disposable income, number of charging station, subsidies and literacy level positively affect the sales of New-energy Vehicle.