Find at least two examples of the relationship in business (or appropriate to you major) data and
Question:
Find at least two examples of the relationship in business (or appropriate to you major) data and explain whether the relations there should be linear or non-linear. At least one of the examples must have more than one input variable. And if the relationship is nonlinear, explain the nature of the relationship (what is underlying reason for the relationship); and what shape of the regression curve may be the best fit.
Illustrate your examples with scatter plots (if you use one input variable) or other appropriate visualization techniques for relations with more than one input variables. No calculation of the regression is needed, but you are encouraged to sketch the regression line or curve manually.
Avoid using any examples listed in the education literature or online posts, the goal is to find your own examples within the data you are familiar with.
For example (it is an assumption), the number of people buying ice cream from a vendor on an ocean boardwalk increases while the temperature with higher temperatures outside. However once the temperature reaches a certain point it fewer people will go on a beach to avoid sunstroke, and the ice-cream sales should decline as well. Weekend vs. weekday and rain is also a factor.
Smith and Roberson Business Law
ISBN: 978-0538473637
15th Edition
Authors: Richard A. Mann, Barry S. Roberts