Deliverable 4 – Predictive Analysis for Data-driven Decisions
Assignment Content
Competency
Determine business outcomes using predictive analysis techniques.
Student Success Criteria
View the grading rubric for this deliverable by selecting the “This item is graded with a rubric” link, which is located in the Details & Information pane.
Scenario
You are the manager for a company that sells outdoor grills. You’ve recently earned your MBA, and you want to apply what you’ve learned to your position to help with decision-making. You have developed the following estimated regression equation to help make data-driven decisions for the store. This will help you to better see how the unemployment rate, temperature, number of activities, and gas prices impact weekly outdoor grill sales.
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
Instructions
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:
Based on the equation above, please provide the value for x1, x2, x3, and x4. Also, explain what these values mean in the context of this question. For example: What does the value of 818 mean in the equation above (specify if it is x1 or x2 or x3 or x4, and explain what those values mean based on the equation and context)?
What are the estimated weekly sales if the unemployment rate is 3.7%, the average high temperature is 670, there are 10 activities, and the average price of gasoline is $3.39 per gallon?
Evaluate data mining techniques that could be used to enhance manager’s decision-making to increase sales.
What recommendations or decisions could you make based on the predictive analysis in question 2?
Resources
Rasmussen College Writing Guide: https://guides.rasmussen.edu/writing/professional
Grammar Checking – How do I create a Grammarly account? https://rasmussen.libanswers.com/faq/32707
Live Help professional tutoring is available for statistics:
https://guides.rasmussen.edu/learningservices
