Difference in the kind of prediction

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Reference no: EM132464716

What is the difference in the kind of prediction in each situations and give a rational of the causes that these calculation were exercised.

The Tasty Sub Shop Case:

A business entrepreneur uses simple linear regression analysis to predict the yearly revenue for a potential restaurant site on the basis of the number of residents living near the site. The entrepreneur then uses the prediction to assess the profitability of the potential restaurant site.

And

The QHIC Case:

The marketing department at Quality Home Improvement Center (QHIC) uses simple linear regression analysis to predict home upkeep expenditure on the basis of home value. Predictions of home upkeep expenditures are used to help determine which homes should be sent advertising brochures promoting QHIC's products and services.

Reference no: EM132464716

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