Statistics
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1. What is it that specifically we can do (and do) when we develop regression equation? We are using ................. to forecast the dependent variable. We get the relationship how?
What if we are using regression to predict retail sales based on ...................................... How do we go about analyzing the changes in the data ...
2. . Consider your example, "sales generated by making calls from a â??qualified leads listâ?, an educated assumption can be made to determine the level of sales generated based on calls made. This will allow staffing levels and realistic goals to be set. " Let us set up the problem: Assume basic form: y = b0 + b1x
x= independent variable = sales generated
y= dependent variable = ?
Let us assume sales generated is in dollar amounts sold (it could be just the number of sales).
a- what type of relationship do we expect?
b- how will we determine the"This will allow staffing levels and realistic goals to be set. "
3. What are the necessary conditions (assumptions) that are needed if:
a- the regression analysis is to produce an answer for us? and
b- for the linear regression to be valid and successful? and
c- The statistical implications of we use in analyzing linear regression are to be valid?
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Solution Summary
This solution discussed ways in wihch to analyze data and a regression analysis.
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1. What is it that specifically we can do (and do) when we develop regression equation? We are using ................. to forecast the dependent variable. We get the relationship how?
What if we are using regression to predict retail sales based on ...................................... How do we go about analyzing the changes in the data ...
The regression equation is based on the variables and Excel as well as SPSS automatically calculates it for you. When doing any kind of regression analysis, the goal is to have at least one independent variable and two dependent variables. At this point, all one has to do is plug in the information to the computer, and it will do it automatically. This is how the relationship is found and what an individual can do to analyze it further through these calculations.
In regards to predicting retail sales based on any data that is available at that time, one has to use the independent and dependent variables so that the information is analyzed properly. The changes in the data are looked ...
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