Managers are required to organize, interpret, and display data that is relevant to the real-world business decisions they must make in their businesses, and these business decisions must be based on relevant and reliable data. The use of analytical tools will improve your ability to use data to make these informed decisions.
In this task, you will address the business situation in the attached “Linear Regression Analysis Resources” scenario. You will access the scenario and data set by entering your student ID number in the “Start” tab of the attachment, then continuing to the “Scenario” tab. Using this data set, you will perform a linear regression analysis and write a report in which you recommend a solution by summarizing the key details of your analysis.
For full functionality of the scenario and data set attachment, you are strongly encouraged to use Microsoft Excel
Complete your linear regression analysis and create a report (suggested length of 2–4 pages or 800 words) by doing the following:
Note: You are encouraged to use the template located within the attached “Linear Regression Analysis Resources” to complete your analysis. While it is required that you use the scenario and data set located in the attachment, the use of the data analysis template is optional.
A. Describe a business question that could be answered by applying linear regression analysis and is derived from the scenario in the attached “Linear Regression Analysis Resources.”
B. Describe the data provided in the attached “Linear Regression Analysis Resources” by doing the following:
1. Describe the relevant data characteristics for your linear regression analysis, including each of the following:
• the independent variable(s)
• the dependent variable
• type of data
• quantity of data
2. Create a graphical display of the data using a scatter plot or line chart, including each of the following:
• chart title
• legend
• axis titles
• data intervals
Note: This display should be a summary or representation of the data provided, not raw data.
C. Report how you analyzed the data using linear regression by doing the following:
1. Provide the output and calculations of the linear regression analysis you performed.
Note: You may submit the analysis output and calculations using a separate spreadsheet attachment or the optional template in the attached “Linear Regression Analysis Resources.”
Note: The output should include the output from the software you used to perform the analysis. Refer to “Prepare for the Performance Assessment Task 1” in the course of study to see examples of acceptable output.
2. Justify why linear regression is the appropriate analysis technique for predicting the dependent variable, including relevant details from the scenario to support your justification.
D. Describe the implications of your data analysis from the scenario by doing the following:
1. State the null hypothesis for this linear regression analysis.
2. Interpret the results of the data analysis by doing the following:
a. Discuss the goodness of fit with the supporting test statistic from your linear regression analysis output.
b. Discuss the significance of the independent variable(s) with support from your linear regression analysis results.
c. Create the linear equation and explain its purpose using your analysis results.
3. Discuss a limitation of the research that could affect a recommended course of action.
4. Recommend a course of action that aligns with your linear regression analysis results.
Note: Your recommendation should focus on the results of your analytic technique output from part C1.
E. Acknowledge sources, using in-text citations and references, for content that is quoted, paraphrased, or summarized.
F. Demonstrate professional communication in the content and presentation of your submission.
STEP 1 – Be sure you have the right version of Excel and then access the data
Check your Excel version first:
Open Excel, Click File/Account, and it should say Office 365
Office 365 has two forms: desktop and online. You will need the desktop because the online version is not built for data analysis.The Online version will not work since it is intended for viewing and sharing data, not for data analysis
It is worthwhile to read module 3 before starting the tasks. Regression and decision analysis are discussed in module 3 of the online
If you have the right Excel version, access your assigned data: In course version 4, you will complete Task 1 using the scenario and data provided within the “Linear Regression Analysis Resources” attachment found in your course of study under
Assessments/View Task/Task Overview for QUM2.
The data is unique to your ID Number (please do not enter your email address in the file).
If you have issues, such as not seeing the Assigned Data, be sure you are on the current local Desktop version of Excel.
You cannot use the Excel Online version, you cannot use older Excel
You must Activate the analysis tools in the current desktop Excel.
You must use Excel updated after 2019. . Follow the tipsheet below to activate the Analysis Tools. Tips are included for Mac and Windows devices.
How to activate The Excel AnalysisToolpak Video Tip Sheet
