User Account

All Pages

Regression Analysis, Applied Statistics

Assignment Help:
Question 3
25 marks

Your employer, Quick Hit Agency (QHA), is a debt collections agency. The company specializes in collecting small accounts. QHA does not deal in large accounts and does not take on risky collections, such as those in which the debtor tends to be chronically late in payments or is known to be hostile.
To distinguish itself from competing collection agencies, the company wants to establish a reputation for collecting delinquent accounts fast. The marketing department has just suggested that QHA adopt the slogan:
“Under 60 days or your money back!“
At the last staff meeting in which this slogan was proposed, the marketing department was asked how they arrived at the number 60. You found the reply unsatisfactory at best: “Well, 60 sounded like a nice round number.”
Since you work as an accountant at QHA, you have access to account balances. You suspect that the number of days to collect the payment is related to the size of the bill. If this is the case, you may be able to estimate how quickly certain accounts are likely to be collected, which, in turn, may assist the marketing department in determining an appropriate level for the money-back guarantee.
To test this theory, you’ve taken a sample of accounts closed out during the months of January through June. The data set includes the initial size of the account and the total number of days to collect payment in full. QHA deals in both residential and commercial accounts and you’ve collected data from both groups. The first 48 observations in the data set are residential accounts and the second 48 are commercial accounts. QHA has approximately equal numbers of residential and commercial accounts so the samples are of the right size.
In the worksheet, the variable Late is the number of days the payment was overdue, and the variable Bill is the amount of the bill in dollars.
Your submission should be in the form of a report commencing with an Executive Summary which includes a recommendation on the feasibility of the 60- day money back guarantee. The next section should be titled Exploratory Analysis and provide an initial examination of the data. The final section titled Regression Analysis should decide whether the size of the bill a useful predictor of the number of days the payment is overdue.
You should make effective use of StatToolsTM output. Results should be reported using the appropriate templates.
Please DO NOT remove any data.
Page limit: Maximum 7 pages including all diagrams

Related Discussions:- Regression Analysis

Applications of standard error, Applications of Standard Error   ...

Applications of Standard Error   Standard Error is used to test whether the difference between the sample statistic and the population parameter is significant or is d

Modified distribution mathod, a b c d e supply p 3 4 6 8 8 20 q 2 6 0 5 8...

a b c d e supply p 3 4 6 8 8 20 q 2 6 0 5 8 30 r 7 11 20 40 3 15 s 1 0 9 14 6 13 d 15 3 12 10 20

Geometric mean, Geometric Mean is defined as the n th root of the ...

Geometric Mean is defined as the n th root of the product of numbers to be averaged. The geometric mean of numbers X 1 , X 2 , X 3 .....X n is given as

Multiple regressions, A sample of 43 houses that were purchased in the Sout...

A sample of 43 houses that were purchased in the Southern California town Monrovia within a month was collected. We are interested in the study of the relationships between Price a

What are the null and alternative hypotheses, Test the following claim. Id...

Test the following claim. Identify the null hypothesis, alternative hypothesis, test statistic, critical value(s), conclusion about the null hypothesis, and final conclusion that

Andrews ‘plots, Andrews ‘Plots A graphical display of multivariate da...

Andrews ‘Plots A graphical display of multivariate data in which an observation, x0 = [x1, x2, . . . , xq] is represented can be represented in the form of function A set

Probability, In 120 tosses of a coin, 45 heads and 75 tails are observed. ...

In 120 tosses of a coin, 45 heads and 75 tails are observed. Is this a balanced coin? Use a=0.05. (Follow the basic steps of hypothesis testing)

Accelerated failure time model, Accelerated Failure Time Model A basic m...

Accelerated Failure Time Model A basic model for the data comprising of survival times, in which the explanatory variables measured on an individual are supposed to act multipli

Calculate and interpret the effect size, Problem 1 Do male and female s...

Problem 1 Do male and female students differ significantly in regard to their average math achievement scores, grades in high school, and visualization test scores? Can you con

Find the inverse laplace transform, Q. Find the inverse Laplace transform o...

Q. Find the inverse Laplace transform of Y (s) = s-4/s 2 + 4s + 13 +3s+5/s 2 - 2s -3. Q. Use the Laplace transform to solve the initial value problem y''+ y = cos(3t), y(0) =

Write Your Message!

Captcha
Order Assignment

Featured Services

Order Now

Popular Subjects

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd