Statistics for managers class discussion wk9 Coursework

Statistics for managers class discussion wk9 - Coursework ExampleThe logistic regression model involved the learning of an approximated three-fold regression equations. The probability prediction that a customer belongs to a particular client group was the dependent variable. On the other hand, the measures of shopping behaviors of customers, stand for as x1, x2, x3, . . . , xp, were the self-directed variables in the regression analysis. The independent variables included the day/hour of purchase, items purchased, and amount purchased. The logistic regression analysis was customful in the sand that it helped the marketers of dunnhumby to identify the most crucial independent variables as far as predicting customer population and customer group is concerned.In view of how dunnhumby applied the multiple regression model, the model sens also be used in other business scenarios. For example, an automobile company such as GM Motors can use a multiple regression analysis to identif y its customer shopping behavior, season of shopping, customer preferences, and customer experiences, for a particular model of railcar sold at a given price. It will help the company to produce and distribute the car that most consumers prefer in the largest quantity. Besides, Amazon.com can use a multiple regression analysis to determine the items that are bought most frequently by customers, the month that most customers visit the website to check the item, and the amount of items purchased in spite of appearance a period. Subsequently, Amazon will develop an interface that enables all customers to preview the featured item and perhaps buy it. Fundamentally, multiple regression analysis allows the endeavor of the connection between multiple independent variables and one dependent variable. However, it has the major drawback that it makes assumptions that need to be checked. In addition, multiple regression analysis uses unknown independent variables to draw conclusions and mak e recommendations. Overall,