Bivariate regression analysis is an excellent tool to help you answer questions about a business. When you use bivariate analysis, you can discover whether there is a strong correlation between a dependent and an independent variable.
In this scenario, you will continue to work as a business consultant trainee with TC Ice Cream. The TC Ice Cream management team would like to know which key attributes have an impact on the Quantity Sold variable. The team would like you to perform two bivariate regressions to analyze the data. Remember that TC Ice Cream is interested in whether specific trends are identified that can help grow its business through improved operations and sales. Then you will create a PowerPoint presentation for the TC Ice Cream management team in which you describe the regression models, the variables, and the testing conducted.
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As a reminder, the WEST NORTH CENTRAL division cannot be used for your assignment. Use the division and the two flavors you selected for Milestone One.
Your task is to create two bivariate regressions using Excel. You will also create a presentation that describes the regression model you used and why you chose to analyze your selected independent variables.
IMPORTANT NOTE:For all bivariate regression models and calculations, use the same division and flavors you selected for Milestone One. It is recommended that you use the scatter plot chart (visualization) in Excel and display the trendline, equation, and R2 value on the visualization.
Specifically, you must address the following rubric criteria:
Create two bivariate regressions using Excel.
- Use the TC Ice Cream Excel Workbook to complete this step. This workbook contains your work from previous modules.
Bivariate Regression for Flavor One:
- Use the “Flavor One Bivariate Regression” sheet to create and place your bivariate regression models.
- Create a bivariate regression model: the dependent variable is Quantity Sold and the independent variable is Advertising Expenses.
Bivariate Regression for Flavor Two:
- Use the “Flavor Two Bivariate Regression” sheet to create and place your bivariate regression models.
- Create a Bivariate regression model: the dependent variable is Quantity Sold and the independent variable is Advertising Expenses.
- Use the Module Four PowerPoint Template to create a presentation explaining the results of the bivariate regressions. This should include key visualizations and analysis to support your answers. The template includes specific questions to answer. Use the bivariate regression models from the “Flavor One Bivariate Regression” and “Flavor Two Bivariate Regression” sheets to support your analysis.
What to Submit
- TC Ice Cream Excel Workbook: Submit the TC Ice Cream Excel Workbook. For this assignment, work should be completed in the “Flavor One Bivariate Regression” and “Flavor Two Bivariate Regression” sheets. Do not remove any worksheets from the workbook.
- PowerPoint Presentation: Submit a PowerPoint presentation using the Module Four PowerPoint Template. If references are included, they should be cited in APA format. Consult the Shapiro Library APA style guide for more information on citations