Correlations, ANOVA, and Multiple Regression

at
Categories
Tags

 

 

How does linear regression differ from analysis of variance?
Using the Jerry Falwell Online Library, find 2 research studies related to public policy that use linear regression. Include the title of the study and a citation, then answer the following questions for each study (hint: you can probably use articles that you cited in your annotated bibliography earlier in the course):

What is one independent variable? What is the dependent variable?
If there is more than one independent variable, what argument does the researcher make that these variables are independent of one another?
Which of the two studies seems to present the least convincing evidence that the dependent variable is predicted by the independent variable? Why?

Sample Solution

Correlations, ANOVA, and Multiple Regression

Regression is a very effective statistical method to establish the relationship between sets of variables. ANOVA is the short form of analysis of variance. It’s a statistical tool that is generally used on random variables. Both the Regression and ANOVA are statistical models which are used in order to predict the continuous outcome but in case of the regression, continuous outcome is predicted on basis of the one or more than one continuous predictor variables whereas in case of ANOVA continuous outcome is predicted on basis of the one or more than one categorical predictor variables. Regression is a statistical method to establish the relationship between sets of variables in order to make predictions of the dependent variable with the help of independent variables. ANOVA, on the other hand, is a statistical tool applied to unrelated groups to find out whether they have a common mean.

• Customer Retention and Attraction: The best way to attract new customers is by providing new offers, discounts and gifts etc. This can be done with the help of media and companies can maximize their profits too. The marker can gain the customer retention by providing uniqueness in products or services which would be different from the competitor and interesting for the customer. This can also be gained by overcoming and reducing the defects which troubled them earlier.

The marketer should have a well understanding of marketing concepts which focus on the goal of the company to make the company more competent than its competitors in organizing and generating customer value. The company need to focus on the needs of purchaser by coordinating the activities that mainly influence the buyer and this will lead to the profits of the company by satisfying the buyer. This include the strategic market planning, implementation and control (Kotler, 2002).

The marketing planning is the first step before the marketer move ahead for rest of the tasks. Planning strategically intents to maximize the growth and revenue of the company by forming the products or services and also making good business for company. The strategic planning helps to prevent the sudden threats that can arise in future. The marketing planning includes division and corporate strategic planning, business strategic planning.

In division and corporate strategic marketing planning, mainly three areas are need to focus. The first is to regulate the business of company in such a way that it involves the purchase security along with the possibility of making a return on that. Secondly, checking the strengths of the each business unit along with the consideration of the position of the company and growth of the market and fitting into that market situation. Lastly, the focus on strategy development and doing marketing planning to achieve the long-term objectives of the company. It is imperative to have a good and clear mission explanation. It needs to concentrate on confined objectives and selecting the target market and customers strategically. This constitute:

This question has been answered.

Get Answer