Question: Assignment Title: Multiple Regression Analysis of a Business Dataset Objective: The objective of this assignment is to understand the practical application of multiple regression analysis
Assignment Title: Multiple Regression Analysis of a Business Dataset Objective: The objective of this assignment is to understand the practical application of multiple regression analysis in business. By analysing a business dataset using multiple regression analysis, students will gain an understanding of how to interpret regression coefficients, evaluate model fit, and use regression analysis to make business decisions.Instructions:
- Select a business dataset that contains multiple variables. You can find business datasets online or in academic journals. Examples of variables include sales, marketing expenses, customer satisfaction scores, and employee turnover.
- Using statistical software such as R or Excel, perform a multiple regression analysis on the dataset. Choose one variable to be the dependent variable and at least three other variables to be independent variables.
- Interpret the regression coefficients for each independent variable. Which independent variables have a significant effect on the dependent variable, and which do not?
- Evaluate the overall fit of the regression model. What is the R-squared value, and what does it tell you about the goodness of fit of the model?
- Use the regression model to make business decisions. For example, if the dependent variable is sales, what independent variables have the greatest effect on sales, and how can this information be used to improve sales performance?
Conclusion: Summarize the key findings of your analysis and provide your own perspective on the usefulness of multiple regression analysis in business decision-making
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