Explore BrainMass
Share

Linear Regression Analysis Prediction

This content was STOLEN from BrainMass.com - View the original, and get the already-completed solution here!

Scenario: You are consultant for the Excellent Consulting Group. Your client wants to be able to forecast sales on a monthly basis and believes that there is a valid relationship between sales and the number of hits on their website during the previous month. To test this theory, the client has collected data on sales of one of its products, a lottery app for smart phones and hits on its website.

Requirement
Using Excel and linear regression analyze the data and determine how to do forecasting using website hits.
Then forecast the next three months using the monthly hits data. Compare the forecast to the actual sales and determine the forecasting error. Ask your Instructor for the data for the actual sales when you are ready.
Then write a report to your boss and the client that briefly describes the results that you obtained. Make a recommendation on how this might be used for forecasting purposes.
Data: Download the Word file Case 3 Data.docx with the data. Use this data in Excel for your analysis.

Expectations
Analysis
• Accurate and complete Linear Regression analysis in Excel.
Written Report
• Length requirements = 4-5 pages minimum (not including Cover and Reference pages)
• Provide a brief introduction/ background of the problem.
• Complete and accurate Excel analysis.
• Written analysis that supports Excel analysis, and provides thorough discussion of assumptions, rationale, and logic used.
Complete, meaningful, and accurate recommendation(s).

© BrainMass Inc. brainmass.com October 17, 2018, 1:30 pm ad1c9bdddf
https://brainmass.com/statistics/linear-regression/linear-regression-analysis-prediction-619080

Attachments

Solution Preview

I'm attaching an Excel spreadsheet containing the regression analysis involved in this exercise, as well as a .pdf file containing write up on the analysis. As I've noted, competing the exercise requires the actual sales data ...

Solution Summary

Deals with the prediction of sales from a lagged (preceding month) indicator. Two separate models are tested.

$2.19
Similar Posting

Descriptive Statistics, Regression Analysis, and Prediction

1) Using the Water use data set (under Course Materials Forum) analyze the data using Excel, MegaStat or whatever statistical software you prefer and report in proper statistical form/jargon about the dataset. (See attached)

2) Using the Water use data set analyze the data using Excel, MegaStat or whatever statistical software you prefer. Perform a proper multiple linear regression analysis and indicate how you are using multiple linear regression to:

(1) predict
(2) describe
(3) control

Report each in proper statistical form/jargon. You may use any variable as dependent, but water usage is a good one for Y hat.

View Full Posting Details