Description of statistics questions

Reference no: EM1396647

1. How can correlation and regression analysis be used to make strategic decisions in a dynamic competitive business environment filled with risk and uncertainty (Consider the relations, either descriptive or predictive that can be accomplished with correlation regression analysis)?

2. What is the difference between a descriptive model that is developed using multiple regression analysis with time-series data and a model that is considered predictive?

3. How can multiple regression and time-series data be employed in financial forecasting by a company? Research if such forecasting models are being used within your own company, or one with which familiar. Are they (Please provide a 1 or 2-sentence response about what found).

4. How can one avoid misusing time-series analysis and multiple regression analysis within a business setting? If one does not know for certain that the data fits a normal distribution, is there a problem?

5. Why is the use of ranking of data and results of particular use in the study of consumer behavior? Once the ranking is determined, can the ranking and a specific behavior possibly be linked through multiple regression analysis?

Reference no: EM1396647

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