Homework Help is Here – Start Your Trial Now!
Math
Statistics
The Scenario: Congratulations. You have just inherited your uncle's business, which is a clothing store. Although the business was successful, your uncle was a "seat of the pants" type of businessman. There was never any sales analysis conducted concerning, e.g. determining the effectiveness of promotional policies. You intend to analyze past sales data to gain insight into the business operations. On BB, under the folder Term Project, you are going to find PROJDATA.XLSX file. The data in this file corresponds to a random sample of 100 sales transactions that took place over the previous year. Because all transactions took place during the previous year and all transactions took place on Saturdays, on non-holiday weekends, you are confident that seasonal and cyclical effects are absent from the data. The Analysis: Based on this sample, you seek to answer the following questions: 4. Can multiple regression be used to “profile" a sale and determine whether a customer is spending more or less than anticipated, ie, to predict the amount of a sale given the profile of a sale? a) To answer this question, conduct a regression analysis. b) How does the regression analysis support (or not support) your answers to part 1-4 above? What to do? Apply the statistical tools that you have learned in class, to the above question using Microsoft Excel

The Scenario: Congratulations. You have just inherited your uncle's business, which is a clothing store. Although the business was successful, your uncle was a "seat of the pants" type of businessman. There was never any sales analysis conducted concerning, e.g. determining the effectiveness of promotional policies. You intend to analyze past sales data to gain insight into the business operations. On BB, under the folder Term Project, you are going to find PROJDATA.XLSX file. The data in this file corresponds to a random sample of 100 sales transactions that took place over the previous year. Because all transactions took place during the previous year and all transactions took place on Saturdays, on non-holiday weekends, you are confident that seasonal and cyclical effects are absent from the data. The Analysis: Based on this sample, you seek to answer the following questions: 4. Can multiple regression be used to “profile" a sale and determine whether a customer is spending more or less than anticipated, ie, to predict the amount of a sale given the profile of a sale? a) To answer this question, conduct a regression analysis. b) How does the regression analysis support (or not support) your answers to part 1-4 above? What to do? Apply the statistical tools that you have learned in class, to the above question using Microsoft Excel

Linear Algebra: A Modern Introduction
Linear Algebra: A Modern Introduction
4th Edition
ISBN:9781285463247
Author:David Poole
Publisher:David Poole
Chapter7: Distance And Approximation
Section7.3: Least Squares Approximation
Problem 31EQ
See similar textbooks
icon
Related questions
Question
Transaction ID Sale Amount Gender Payment Type Promotion Type Weeks After Advertisement
1 50.8 Female Non-Credit None 2
2 93.5 Male Non-Credit BOGO 2
3 70.2 Female Non-Credit BOGO 1
4 36.3 Female Non-Credit None 0
5 71.5 Female Non-Credit BOGO 1
6 79.7 Male Credit BOGO 0
7 60.3 Female Credit Coupon 1
8 74.5 Male Credit None 0
9 86.4 Female Credit BOGO 0
10 20.6 Male Credit None 2
11 39.8 Male Credit None 2
12 67.4 Male Non-Credit Coupon 1
13 52.2 Female Non-Credit Coupon 2
14 99.9 Female Credit None 0
15 68.9 Male Non-Credit Coupon 1
16 74.5 Male Non-Credit BOGO 0
17 88.5 Female Non-Credit None 1
18 88 Female Non-Credit BOGO 1
19 64.6 Female Credit Coupon 1
20 55.8 Female Non-Credit None 2
21 73 Male Non-Credit BOGO 1
22 64 Female Credit Coupon 1
23 73.7 Female Credit BOGO 1
24 58.7 Female Credit Coupon 2
25 70.1 Female Non-Credit Coupon 2
26 78.7 Female Credit Coupon 0
27 85.1 Female Credit BOGO 0
28 66.3 Male Credit Coupon 1
29 62.8 Male Credit BOGO 1
30 75.4 Female Non-Credit Coupon 0
31 53.3 Female Non-Credit BOGO 2
32 65.2 Female Credit Coupon 1
33 59.2 Male Non-Credit Coupon 1
34 104.6 Female Non-Credit Coupon 2
35 67.3 Female Non-Credit None 1
36 51.5 Male Non-Credit Coupon 2
37 81.4 Male Non-Credit Coupon 0
38 49.6 Female Non-Credit None 1
39 62.3 Female Credit Coupon 1
40 54.8 Male Credit Coupon 2
41 63.4 Male Non-Credit Coupon 1
42 47.4 Male Credit None 1
43 65.9 Male Credit Coupon 1
44 42.2 Female Credit None 2
45 36.8 Male Non-Credit None 0
46 88.1 Female Non-Credit BOGO 1
47 57.8 Male Non-Credit Coupon 2
48 96.7 Female Credit BOGO 0
49 77 Female Non-Credit Coupon 0
50 93 Female Credit BOGO 0
51 70.5 Female Non-Credit BOGO 1
52 66.5 Female Non-Credit Coupon 1
53 84.4 Male Non-Credit None 0
54 27.6 Male Non-Credit BOGO 2
55 59 Male Non-Credit Coupon 2
56 49.1 Male Non-Credit None 1
57 54.4 Female Non-Credit Coupon 2
58 63.4 Female Credit Coupon 1
59 95.1 Female Non-Credit BOGO 0
60 69.3 Female Non-Credit Coupon 2
61 72.2 Female Credit BOGO 1
62 39.1 Male Credit None 0
63 69.4 Female Non-Credit Coupon 2
64 60.7 Male Non-Credit Coupon 1
65 65.2 Female Non-Credit Coupon 1
66 74.5 Female Credit BOGO 0
67 44.1 Male Non-Credit BOGO 2
68 83.1 Female Non-Credit BOGO 0
69 30.3 Male Credit None 2
70 49.8 Male Credit None 1
71 39.5 Male Non-Credit None 0
72 48.9 Female Credit None 1
73 70.8 Male Credit BOGO 1
74 78.5 Male Non-Credit Coupon 0
75 107.9 Female Non-Credit BOGO 0
76 101 Female Non-Credit BOGO 2
77 47.3 Female Non-Credit None 2
78 82 Female Non-Credit BOGO 0
79 110.6 Female Credit BOGO 0
80 73.7 Female Non-Credit BOGO 1
81 27 Male Credit None 2
82 68.9 Female Non-Credit Coupon 1
83 43.2 Female Credit None 2
84 61.5 Male Credit Coupon 1
85 59.5 Male Non-Credit Coupon 1
86 28.2 Male Non-Credit None 2
87 83.9 Female Non-Credit BOGO 0
88 50 Male Credit None 1
89 91.4 Female Non-Credit BOGO 0
90 55.8 Female Non-Credit Coupon 2
91 45.4 Male Non-Credit None 2
92 103.8 Female Credit BOGO 2
93 69.5 Female Credit Coupon 2
94 69.6 Female Non-Credit Coupon 2
95 72.9 Male Non-Credit BOGO 1
96 67.1 Female Credit None 1
97 53.8 Male Non-Credit Coupon 2
98 94.1 Female Credit Coupon 0
99 58.3 Female Non-Credit Coupon 2
100 86.4 Female Non-Credit Coupon 1

 

Please show excel procedure

The Scenario: Congratulations. You have just inherited your uncle's business, which is a clothing store. Although the business was successful, your uncle was a "seat of the pants" type of businessman. There was never any sales analysis conducted concerning, e.g. determining the effectiveness of promotional policies. You intend to analyze past sales data to gain insight into the business operations. On BB, under the folder Term Project, you are going to find PROJDATA.XLSX file. The data in this file corresponds to a random sample of 100 sales transactions that took place over the previous year. Because all transactions took place during the previous year and all transactions took place on Saturdays, on non-holiday weekends, you are confident that seasonal and cyclical effects are absent from the data. The Analysis: Based on this sample, you seek to answer the following questions: 4. Can multiple regression be used to “profile" a sale and determine whether a customer is spending more or less than anticipated, ie, to predict the amount of a sale given the profile of a sale? a) To answer this question, conduct a regression analysis. b) How does the regression analysis support (or not support) your answers to part 1-4 above? What to do? Apply the statistical tools that you have learned in class, to the above question using Microsoft Excel
Transcribed Image Text:The Scenario: Congratulations. You have just inherited your uncle's business, which is a clothing store. Although the business was successful, your uncle was a "seat of the pants" type of businessman. There was never any sales analysis conducted concerning, e.g. determining the effectiveness of promotional policies. You intend to analyze past sales data to gain insight into the business operations. On BB, under the folder Term Project, you are going to find PROJDATA.XLSX file. The data in this file corresponds to a random sample of 100 sales transactions that took place over the previous year. Because all transactions took place during the previous year and all transactions took place on Saturdays, on non-holiday weekends, you are confident that seasonal and cyclical effects are absent from the data. The Analysis: Based on this sample, you seek to answer the following questions: 4. Can multiple regression be used to “profile" a sale and determine whether a customer is spending more or less than anticipated, ie, to predict the amount of a sale given the profile of a sale? a) To answer this question, conduct a regression analysis. b) How does the regression analysis support (or not support) your answers to part 1-4 above? What to do? Apply the statistical tools that you have learned in class, to the above question using Microsoft Excel
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 1 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Similar questions
Recommended textbooks for you
Linear Algebra: A Modern Introduction
Linear Algebra: A Modern Introduction
Algebra
ISBN:
9781285463247
Author:
David Poole
Publisher:
Cengage Learning
SEE MORE TEXTBOOKS