Answer the discussion question

Answer the discussion question

After reading Chapter 6 in the uploaded document, consider how we can apply regression analysis to a business situation. Let’s take company sales as an example. We know that the sales performance of products and services is affected by marketing, demand, economy, reputation, and so on.

Does this mean that company leaders should apply statistical analysis to determine the right mix of components (i.e., marketing, demand, and so on) that affect sales performance?

In addition, discuss the importance of regression analysis in statistics?

Requirement:
Work must be 1 FULL page, single spaced, 12 font Times New Roman. The cover and reference page must be on separate pages with at least 5 references. You should have at least one in text citation for every reference and try to use reference other than or in addition to the uploaded textbook. Must contain a properly formatted in-text citation and scholarly reference.

Solution Preview

Regression analysis is what most managers and company leaders use to understand the trends in their market. It uses statics to analyze how dependent variables are related to independent variables. An excellent example of the relationship between these variables includes when marketing, the dependent variable is the outcome, which is the sales. 

(679 words)