Scenario
You are the manager of a local retail store. To help make decisions within your organization, you recently completed your MBA with an emphasis in business analytics. You have developed the following estimated regression equation to help make data-driven decisions for the store.
Y = 22,100 – 412×1 + 818×2 – 93×3 – 71×4
Where:
· Y = weekly sales
· x1 = local unemployment rate
· x2 = weekly average high temperature
· x3 = number of activities in the local community
· x4 = average price of gasoline per gallon
Use the above equation and information to answer the following questions in a Word document, and create a guideline to use for future business decisions:
Grading criteria:
Clearly and strongly, used correlation and regression analysis techniques to examine relationships (thoroughly explained values based on the equation and context).
Skillfully evaluated data mining techniques used to enhance managers’ decision-making (estimated weekly sales based on values given).
Clearly and strongly utilized predictive modeling to propose business recommendations, using clear examples in a well-analyzed guideline, and based on predictive analysis in question 2.
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