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Examining multivariate techniques

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Deliverable Length:   1-2 pages

Using the information from Units 1, 2, and 3, Big D Incorporated will be examining how multivariate techniques can serve the organization best and how they can be applied to its new client, the outdoor sporting goods customer. The Board of Directors has asked you to research and explain 3 major ways in which multivariate statistics are utilized in this scenario. In this case, be sure to justify your decision.

Research using the library and the Internet to find an example of how a real company has used each of the following multivariate techniques:

This can be considered a benchmark if you can justify how it could benefit Big D Incorporated.

Write a summary to upper management explaining the following:

  • How can each multivariate technique be utilized in Big D Incorporated, and what purpose would each serve?
  • Which technique is your preferred method, and how is your chosen multivariate technique different from the other two techniques?
  • What will the Board of Directors learn from your selected technique and more importantly, how will it contribute to the overall decision-making process? Ensure that your explanation is clear and concise.

Please submit your assignment.

Utilize a regression model

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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?
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Additional Resources

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

Appropriate sampling methodologies

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Assignment Objectives

Determine appropriate sampling methodologies for business settings and situations.Explain the various methodologies and applications relating to levels of measurement, central tendency, dispersion, and other key statistical metrics.

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For this assignment, do the following:

  • Download the file Sample Data.
  • Prepare a chart similar to the one in the downloaded file to indicate whether the correlation between variables A and B were found to be positive, negative, or minimal.
  • Provide an explanation and justification for your decisions.

In your own words, explain what it means if the correlation of 2 variables is positive, negative, or minimal (close to 0), and give an example of each.

  • What do you deduce from the correlations? Explain if you believe these to be short or long-term objectives and outcomes.
  • What are the implications for Big D Incorporated regarding its client in the outdoor sporting goods?
  • What are the implications for the penetration into the indoor sporting goods market?
  • Also, how can you use the correlation tools to identify the variables in the research toward the expansion into the indoor sporting goods market?

Please submit your assignment.