Week 3 Discussion Questions and Participation Questions Essay

Week 3 Discussion Questions and mesh Questions - Essay ExampleGroup data refers to data that is illustrated in the form of a range much(prenominal) as 20-50. Ungrouped data shows single numbers such as 20,21,30,42. A good graphical proficiency to illustrate the prices of homes in a particular region is a bar graph. The bar graph throw out illustrate the different prices of homes in the area. The reason I choose a bar chart is because it reflects monotonic data. Below is an example of a bar chart with five home prices ($100000, $150000, $200000, $175000, and $250000).The basic formula utilise in a fixing analysis is y = a + bx. In this formula the y represents the dependent variable. This variable is subject to the independent variables to find the prove of the equation. The dependent variable rear endnot be controlled, but the result is influenced by the note values of the independent variable or variables. If the formula illustrated above had multiple independent variables the reverting formula would be a multiple regression. In mathematics the independent variable is one whose value does not depend on all other variable (Wisegeek, 2010). In the formula mentioned above the X represent the independent variable. B is the slope of the regression line, while A represents the intercept point of the regression line and the y axis. Regression analysis is a tool that is very useful due to the fact that it allows managers to judge information. Once the regression equation is created the user can alter the independent variable in order to forecast something based on the model. The slope tells us how inclined is the regression line. An application that managers can use is forecasting its sales. The manager would have to input the sales of the company for multiple past periods such as ten years. Once the data is input into the linear regression the manager can forecast the future sales of the company.Regression analysis can be extremely useful to forecast an y type of business data. Managers have a need to forecast the future due to the fact