The goal of the course project is to showcase your mastery of the topics covered in...

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The goal of the course project is to showcase your mastery of the topics covered in class by defining a problem of interest, acquiring a data set, using various techniques to extract useful information, and then communicating the results. In university, we are used to work with problems that have clear statements and that provide all the information needed to solve them (see our past quizzes for example). However, in real life this is seldom the case! Usually the most difficult part is to identify the problem, formulate it and look for the data needed to solve it. Thus, this course project is intended to help you develop these skills. Your job now is not only to use the analytics techniques learnt in class, but to find an interesting problem, formulate how you will approach it and find data to solve it. You will be assigned to a project group and together you will define a business problem that requires the use of analytics. The project has two stages, with an assignment associated to each stage. Stage 1 is about the problem formulation and planning the project, and Stage 2 is about conducting the analysis and reporting results. This document describes Stage 1. STAGE 1 As a first step, each group should select a topic, define a problem, and identify the data that will be used to solve the problem. The topic selected should be of interest to all group members. A key to completing a successful analysis is that the group identifies a clear objective and formulate a specific set of questions to be answered. In this project you have to define two questions, one should be solved using Multiple Linear Regression and the other one should be solved using Hypothesis testing. Below, I provide three databases. Please explore them and decide which one you will use for this project (choose only one database): Dataset 1: Student Performance Dataset 2: Current Population Survey. Dataset 3 - Health Insurance Costs What do you need to do? Submit (upload) a document that describes the project (only one submission per group), including the following sections: 1. Background of the project (what is the project about? why is it interesting?) 2. Project objectives and questions (What are the questions that you will address? Please define two questions: One should be solved using Multiple Linear Regression and the other one should be solved using Hypothesis testing. What do you expect to find and why?) 3. Data Source (What data will you use to conduct the analysis? Please describe the columns (fields) included in the database that you will use in your analysis? Is all the data needed to conduct the analysis available? 4. Analytic techniques (What analytics method/s will you use to analyze the data and answer your questions? Explain how you plan to apply the analytic technique 5. Project Plan (Describe the steps that your team plans to follow after your project is approved. Explain accurately how each member of the group will contribute to the project) 6. Comments/Questions (Please include any comments or questions that you want to ask me) The goal of the course project is to showcase your mastery of the topics covered in class by defining a problem of interest, acquiring a data set, using various techniques to extract useful information, and then communicating the results. In university, we are used to work with problems that have clear statements and that provide all the information needed to solve them (see our past quizzes for example). However, in real life this is seldom the case! Usually the most difficult part is to identify the problem, formulate it and look for the data needed to solve it. Thus, this course project is intended to help you develop these skills. Your job now is not only to use the analytics techniques learnt in class, but to find an interesting problem, formulate how you will approach it and find data to solve it. You will be assigned to a project group and together you will define a business problem that requires the use of analytics. The project has two stages, with an assignment associated to each stage. Stage 1 is about the problem formulation and planning the project, and Stage 2 is about conducting the analysis and reporting results. This document describes Stage 1. STAGE 1 As a first step, each group should select a topic, define a problem, and identify the data that will be used to solve the problem. The topic selected should be of interest to all group members. A key to completing a successful analysis is that the group identifies a clear objective and formulate a specific set of questions to be answered. In this project you have to define two questions, one should be solved using Multiple Linear Regression and the other one should be solved using Hypothesis testing. Below, I provide three databases. Please explore them and decide which one you will use for this project (choose only one database): Dataset 1: Student Performance Dataset 2: Current Population Survey. Dataset 3 - Health Insurance Costs What do you need to do? Submit (upload) a document that describes the project (only one submission per group), including the following sections: 1. Background of the project (what is the project about? why is it interesting?) 2. Project objectives and questions (What are the questions that you will address? Please define two questions: One should be solved using Multiple Linear Regression and the other one should be solved using Hypothesis testing. What do you expect to find and why?) 3. Data Source (What data will you use to conduct the analysis? Please describe the columns (fields) included in the database that you will use in your analysis? Is all the data needed to conduct the analysis available? 4. Analytic techniques (What analytics method/s will you use to analyze the data and answer your questions? Explain how you plan to apply the analytic technique 5. Project Plan (Describe the steps that your team plans to follow after your project is approved. Explain accurately how each member of the group will contribute to the project) 6. Comments/Questions (Please include any comments or questions that you want to ask me)