Auburn University Data Analytics Paper

Description

Activity 1

Explain the difference between linear regression and a regression line. Please explain your answer with at least 250 words. (Chapter 5 Question 3)

Activity 2

Which of the following is not an element of the Scientific Method?

Formulate a hypothesis

Do background research

Collect market data

Communicated the findings

After you have selected which element doesn’t belong, please explain with at least 250 words, and include why it does not belong with the others.

Activity 3

You just purchased a food truck and have begun selling in a large college town. As you are learning the market, you have been changing location every few days to get a sense of local demand. In doing so, you’ve decided to collect some data. In particular, you collect data on your revenues and the distance of the truck location from the center of the local university. The hope is to get a sense as to whether demand notably varies depending on your proximity to the university.

Based on the data, please answer the following.

What were the best days of the month for sales? (Top 5)

What days of week are the best for sales?

What was the total sales for the month?

What days were the worst for sale? (Lowest 5)

Rank the weeks by best sales from greatest to least: 1, 2, 3, or 4. Hint: total the week’s sales and group accordingly. Omit the 29-31 in your ranking.

What is the average for the month?

What is the mode?

What is the range in sales?

Run a regression and use the data to create a graph in Excel.

Write a 500-word summary explaining to your manager how you can increase sales for the next month.

Activity 4

Explain why the Linear Probability Model doesn't have any restrictions on the values that the independent variables take on. What are some practical applications of the Linear Probability Model?

Activity 5

What is the primary reason that using non-experimental data to measure a treatment effect can be problematic? (Chapter Question 7)

Please give your answer with at least 200 words.