Bivariate regression analysis

at
Categories
Tags

 

Bivariate regression analysis is an excellent tool to help you answer questions about a business. When you use bivariate analysis, you can discover whether there is a strong correlation between a dependent and an independent variable. As a business consultant, you will probably want to test a hypothesis for cause and effect when you use a scatterplot and a line of best fit, which will show you the strength of the correlation.

In this scenario, you will continue to work as a business consultant trainee with the superstore client. The superstore would like to know which key attributes have an impact on its sales revenue and the number of orders. Your vice president would like you to perform two bivariate regressions to analyze the data. Remember that the superstore is interested in whether specific trends are identified that can help grow its business through improved operations and sales. Then you will write a report for your vice president of operations in which you describe the regression models and the key attributes you chose to analyze. Additionally, you will explain why you chose to analyze those key attributes.
18:20
Your task is to create two bivariate regressions using Excel. You will also write a short report that describes the regression model you used and why you chose to analyze your selected independent variables.

Perform two bivariate regressions on the data using the Superstore Excel Workbook to complete this step. This workbook contains your work from previous modules. Both bivariate regressions should analyze Sales with the independent variables of your choice.
Create one bivariate regression that is placed within the Bivariate_Regression_1 worksheet
Create one bivariate regression that is placed within the Bivariate_Regression_2 worksheet.
Explain the results of the bivariate regressions. For each bivariate regression performed, address the following:
Why did you choose your selected independent variable?
Explain the regression model used.
Include the key regression output values that include: R2, p value, intercept, and coefficients.
Explain the regression equation performed.

Sample Solution

tant growth from a stagnant state to a higher level of equilbrium. It implies changes in income, saving and investment along with accelerating changes in socio- economic structure of a country. Economic Development is concerned with whole changes in the economy and brings both qualitative and quantitative changes and mainly refers to the problem of developing countries. It relates to the utilisation and development of unused resources in underdevloped countries. After the mid-1980s India began opening up its market slowly through economic liberalization and this policy played a huge impact on the economic development of India. The Indian economic development got a boost through its economic reform in 1991 and again through its renewal in the 2000s. Since then, the whole scenario of economic development of India has changed dramatically. http://www.business.mapsofindia.com

Economic growth is a narrower concept than economic development. As earlier we stated, its termed as an increase in the real level of national output but this can only be caused by an increase in quality of resources, such as education, increase in quantity of resources and improvements in technology or increase in the value of goods and services produced by every sector of the economy.In Malaysia for example, Prime Minister Abdullah, after coming to power in 2003, has tried to develop economy of this south Asian country by introducing value added production. He took a number of measures to introduce hi-tech technologies and urged investments in high technology industries, medical technology and pharmaceuticals. www.economywatch.com

Economic development is a normative concept. According to Michael P. Todaro,an American economist, economic development is an increase in living standards, improvement in self-esteem needs and freedom from oppression. http://www.diffen.com/. Malaysia economic development is one of fastest and steady in global economic scenario. Malaysia GDP per capita has been estimated to be $14,700 in fiscal year 2009. https://www.cia.gov/.

This question has been answered.

Get Answer