Can you think of an example where analysis of simple-linear and multiple regression analysis can be used? How can regression analysis be used in a retail environment, or how should it be used to formulate strategies?© BrainMass Inc. brainmass.com March 4, 2021, 7:07 pm ad1c9bdddf
Please see the attached files.
I have given you a very relevant example. They relate to the retail environment to enable the prediction for formulating strategies.
a. Set up a scatter diagram and calculate the associated correlation coefficient. Discuss how strong you think the relationship is between the amount of money spent on television advertising and the number of orders received. Please use the Correlation procedures within Excel under Tools > Data Analysis. The Scatterplot can more easily be generated using the Chart procedure.
After copying the date, paste them into the Excel file, which I have created. You then select the whole area. Go to the Chart Wizard icon, select Scatter ...
The solution provides a very detailed example on linear and multiple regression analysis. They are detailed in a 3-page Word file and complete analysis in an Excel file.