04 Aug You are the manager of a local retail store. To help make decisions within your organization, you recently completed your MBA with an emphasis in business analytics. You h
Scenario
You are the manager of a local retail store. To help make decisions within your organization, you recently completed your MBA with an emphasis in business analytics. You have developed the following estimated regression equation to help make data-driven decisions for the store.
Y = 22,100 - 412×1 + 818×2 - 93×3 - 71×4
Where:
· Y = weekly sales
· x1 = local unemployment rate
· x2 = weekly average high temperature
· x3 = number of activities in the local community
· x4 = average price of gasoline per gallon
Instructions
Use the above equation and information to answer the following questions in a Word document, and create a guideline to use for future business decisions:
- Based on the equation above, please provide the value for x1, x2, x3, and x4. Also, explain what these values mean in the context of this question. For example: What does the value of 818 mean in the equation above (specify if it is x1 or x2 or x3 or x4, and explain what those values mean based on the equation and context)?
- What are the estimated weekly sales if the unemployment rate is 3.7%, the average high temperature is 670, there are 10 activities, and the average price of gasoline is $3.39 per gallon?
- What recommendations or decisions could you make based on the predictive analysis in question 2?
Grading criteria:
Clearly and strongly, used correlation and regression analysis techniques to examine relationships (thoroughly explained values based on the equation and context).
Skillfully evaluated data mining techniques used to enhance managers' decision-making (estimated weekly sales based on values given).
Clearly and strongly utilized predictive modeling to propose business recommendations, using clear examples in a well-analyzed guideline, and based on predictive analysis in question 2.
Order this paper at writeden.com for only $10 a page
This question was first posted at writeden.com!
Our website has a team of professional writers who can help you write any of your homework. They will write your papers from scratch. We also have a team of editors just to make sure all papers are of HIGH QUALITY & PLAGIARISM FREE. To make an Order you only need to click Ask A Question and we will direct you to our Order Page at WriteEdu. Then fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Fill in all the assignment paper details that are required in the order form with the standard information being the page count, deadline, academic level and type of paper. It is advisable to have this information at hand so that you can quickly fill in the necessary information needed in the form for the essay writer to be immediately assigned to your writing project. Make payment for the custom essay order to enable us to assign a suitable writer to your order. Payments are made through Paypal on a secured billing page. Finally, sit back and relax.
Do you need help with this question?
Get assignment help from WriteEdu.com Paper Writing Website and forget about your problems.
WriteEdu provides custom & cheap essay writing 100% original, plagiarism free essays, assignments & dissertations.
With an exceptional team of professional academic experts in a wide range of subjects, we can guarantee you an unrivaled quality of custom-written papers.
Chat with us today! We are always waiting to answer all your questions.