: Building A Model

Consider the following scenario:

Suppose you are a business analyst for a women's clothing chain planning an aggressive marketing campaign. To help target this marketing, you have been asked to mine the data available in the 10,000 records from the Expenditures Data Set. Specifically, you have been asked to identify the characteristics of the women who spend the most on clothing. You decide to approach this request by developing a multiple regression model to predict clothing expenditure as a function of the demographic information in the file.

Complete the analysis and prepare a report of the results. Include the following:

• Discuss which data you used from the Expenditures Data Set, linked in the Resources under the Required Resources heading, and what modifications you had to make to that data.
• Employ statistical analysis software to develop a representative regression model.
• Describe the best regression model that could be developed and how well it predicts clothing expenditures made by women.
• Analyze the implications of the results from this model for the planned advertising campaign.
• Prepare a report to present your work, the statistical output from your selected software, and the results of your analysis in a concise and compelling manner, using effective communication strategies and appropriate business terms.