How A Beauty Salon ( The Business ) Helps Study The Income Fluctuations That Occur For Different Months Of

983 Words Sep 11th, 2016 4 Pages
A beauty salon (The Business) wants to study the income fluctuations that occur for different months of the year. The study would provide insights into the matter. It may also induce possible investigations of the causes as well as actions to promote business. The real sales revenue over 60 months will be used for the regression analyses.

B. Report data collected
1. Describe the relevant data
Sales revenue for 60 months is used. This data is historical sales revenue and will be used to predict the trends or patterns in sales if any.
2. Graphic displays
The sales revenue over 60 months from 2011 to 2015 is placed in the table and graphs for easy reading.
Table 1 - Five year sales

Figure 1. Five year sales graphs.

3. One advantage and one disadvantage of the data gathering methodology
One clear advantage is that the data is from real sales and readily available.
On the other hand, one disadvantage is that the data only represents a lump sum of sales in each month. Therefore, there is no breakup for customer demographics or services for example. There is no way to get more details based on just the total sales in each month.

C. Report how data is analyzed using the regression technique
1. Describe the analysis technique
Data is gathered and represented in graphical and tabular formats for easy understanding and pattern recognition. Regression techniques will be utilized to analyze the data to discover trends or patterns if any. The regression analyses will use…

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