Reference no: EM132972434

For your initial post, first address the following questions in general:

1. How do you think regression analysis can be used to make predictions in a business?
2. What are some examples of response variables that businesses may want to predict? Why?

Then, choose a business and conduct a little research about that business. This can be a business you are personally familiar with or even own, or one that you would just like to learn more about. To be clear, I want to give you an example. Apple may want to forecast its future iPhone sales using a set of predictor variables such as advertising expenditures, personal disposable income, and/or money spent in product development. As you expect, all predictor variables are positively related with Apple's future sales in this simple example. Now it is your turn: you will apply regression analysis for the business you have searched about and address the following questions. 

1. Based on the information you found about this business, determine a response variable other than future sales that this business may be interested in predicting.
2. Given this response variable, what do you think should be the predictor variables for this response variable? Explain each predictor variable and its relation to the response variable.