Devry BIAM300 2022 March Week 7 Lab Latest

BIAM300 Managerial Applications of Business Analytics

Week 7 Lab  

Scenario:

What is the impact of using a time series for analysis? You manager wants to know. You have been tasked to research time series analysis use and report your results to the manager. You have RStudio as a tool to do your research and complete some examples of time series use. Time to get started.

Software Used: RStudio and MS Word

Deliverable: MS Word with RStudio results both located in the Azure virtual lab environment

Step 1: RStudio

Go to the Azure virtual lab environment and navigate to RStudio. Select the icon to open the software.

Complete R-Practice 7.3.1 using RStudio. Change the numbers, at least two or three numbers, in the second row of the code. Take a screen print of your code and the resulting chart. Paste the screen print into a new MS Word document.

Step 2: Complete R-Practice 7.3.2

Using RStudio. Change the numbers, at least two or three numbers, in the second row of the code. Take a screen print of your code and the resulting chart. Paste the screen print into a new MS Word document.

Step 3: Complete R-Practice 7.4.2 Using RStudio.

Change the numbers, at least two or three numbers, in the second row of the code. Take a screen print of your code and the resulting chart. Paste the screen print into a new MS Word document.

Step 4: Report to Manager

When reporting to your manager, discuss the following details.

What information can your manager get from using a time series analysis?

Give real-world examples of how regression analysis and time series might be used.

Discuss the pros and cons of using a time series analysis.

Step 5: Submit Work

Save and submit your MS Word file with three screen prints of the altered code for time series and report to the manager.