Business - Decision Making

College
Essay
Miscellaneous
Pages 4 (1004 words)
Download 0
Regression analysis is the calculation of the relationship between one of more variables. It analysis the change in the value of one variable depending upon the happening of the other variables. For example regression analysis can be used to ascertain the change in demand if there is an increase or decrease of prices…

Introduction


For example, the depreciation in the value of a car as time passes and the distance it is driven is done by simple regression. But this type of situation rarely exists since there are many complex factors or variables that exist in the real world. If we want to calculate the future earning of a person taking only his years in school is simple regression, but it is not accurate since other factors like age, qualification, industry, experience are not taken into account. If we take all these factors into account the situation becomes more complex and hence multiple regressions would have to be used.
Linear regression is used in similar circumstances as a simple regression. A relationship between height and weight of adults can be presented in a linear regression. The heights and weights are marked on a graph and a straight line is drawn through the middle.
On the other hand nonlinear regression (NLREG) is used in more complex situations. "NLREG is a powerful statistical analysis program that performs linear and nonlinear regression analysis, surface and curve fitting." (NLREG).
After the taking over of Company W, WidgeCorp is supposed to be one of the leading industries under marketing of snack foods and beverages. Their style of management and business decision-making was different from the company W.
The WidgeCo ...
Download paper
Not exactly what you need?

Related papers

Business Decision Making Bachelor Essay
Since these two constraints will be applied, the minimum number of units in each category is assumed to be the sold quantity every month. This would mean that the company would realise the following sales figures: alphas: 25, Betas: 30 and Gammas: 6. In order to achieve these sales figures, the initial investment required to buy these supplies from the manufacturer will be: PDS 733, 500/- which is…
Business (Decision Making) Essay
The comparison of the amount of time it take to get to work suggest that the company need to deliver more snack at work place as majority of the people stay away from home the whole day of work except those who are working at home.…
Business - Decision Making
For example, the depreciation in the value of a car as time passes and the distance it is driven is done by simple regression. But this type of situation rarely exists since there are many complex factors or variables that exist in the real world. If we want to calculate the future earning of a person taking only his years in school is simple regression, but it is not accurate since other factors…
Business Decision Making
Statistically speaking, there are two types of hypothesis namely, the null and the alternative hypotheses. During a statistical test, the null hypothesis is tested against the alternative hypothesis. It should be noted that "null" means nothing and that null hypothesis means that nothing is present (Hyperstat Online 2008). Statistical tests are conducted in order to test the viability of the null…
Business (Decision Making)
This implies that the sum of all the cells will be equal to the sum of subjects. Another assumption is that chi square is applied to a large sample of data. Usage of small sample is expected to mislead the user to come up with wrong results. Every observation of chi square is expected to have the same distribution. The assumption regarding cell sizes is that in a 2 by 2 table there should be five…
Business Decision Making Research Paper
they make their decision and do not wait for more options or alternatives. Thus they generally look for answers which are good enough and may not be the best.…
Business Decision Making Discussion
7) Should be able to multi-task occasionally. 8) Should be able to start work immediately.…