Utilize a regression model
Primary Task Response: Within the Discussion Board area, respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your classmates. Be substantive and clear, and use examples to reinforce your ideas.
Big D Incorporated is nearing completion of its portfolio of recommendations for the outdoor sporting goods company. There are a wide range of measures that could be of value to the Board of Directors to consider.
Think of each measure as being a paint stroke in a corporate picture. By itself, it may not have much value. However, when combined with others, a picture is formed. The more variables examined regression, the clearer the picture. For example, consumer age, income, gender, background, industry, and interests could provide guidance to the best marketing approach to take.
Although past data are used to indicate the future, the social and economic impact of the coronavirus needs to be considered. What are the impacts to unemployment, income disruption, and recovery plan by each state?
Clearly state variables that you would utilize in your path that you are recommending. Utilize a regression model to determine if the recommendation is to expand into the new market or to not expand. Ensure that you provide adequate justification for your recommendations. The Board of Directors requires your input based upon your previous exercises from Units 1, 2, and 3.
Responses to Other Students: Respond to at least 2 of your fellow classmates about their Primary Task Response regarding items you found to be compelling and enlightening. To help you with your discussion, please consider the following questions:
- Do you agree with your classmate’s decision? Why or why not?
- What additional questions do you have after reading the posting?
- What clarification do you need regarding the posting?
- Why do you feel your decision would make more sound financial and business sense?
Statisticshowto.com. (n.d.). Regression analysis: Step by step articles, videos, simple definitions. https://www.statisticshowto.com/probability-and-statistics/regression-analysis/
U.S. Bureau of Labor Statistics. (2020). Unemployment rates for states, seasonally adjusted. https://www.bls.gov/web/laus/laumstrk.htm
Franck, T., & Schoen, J. (2020). This map shows which states are seeing the most job losses due to the coronavirus. https://www.cnbc.com/2020/04/02/this-map-shows-states-are-seeing-the-most-job-losses-due-to-the-virus.html