Linear Regression in Calculating Competition
Assignment: For General Motors Company (GM), explore its quality situation and determine a problem or issue that requires the use of simple linear regression. Explore this situation in depth and write a paper about it. The Main Point of the paper is to explain why using regression analysis is useful in this situation. Provide the background information about the situation, how you would collect the data for the independent and dependent variables and how you would determine the regression equation. Then make a case for the Main Point. Be sure to include references that you use. The paper should be two to three pages. Helpful Assignment Information: The assigned reading is Business Statistics by Chikkodi, C.M. Satyaprasad, B.G. Ch 14, Regression. This text is available at ebrary Chikkodi, C.M. Satyaprasad, B.G, Business Statistics, Global Media, Mumbai, IND, 2010. Retrieved from http://site(dot)ebrary(dot)com/lib/tourou/docDetail.action?docID=10415686&p00=business%20statistics The topics discussed here include Definition of regression Correlation and regression (we will discuss correlation in Module 3) How to calculate the regression equation of X on Y. Additonally, you may also watch a video to help understaning the concepts of correlation. It is called Regression Line Example, available at http://www(dot)khanacademy(dot)org/video/regression-line-example?topic=statistics
Linear Regression in Calculating Competition
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Linear Regression in Calculating Competition
General Motors (GM) is internationally recognized as one of the best automobile giants. This is due to the availability of efficient production, performance, management and quality production. The company and its industry are facing a marginal and stiff competition from other companies such as Toyota, Nissan and Mercedes Benz Companies. The resultant factor is developing the necessary support needed in gaining the market share that they hold and can satisfy their customers. It is therefore, important to note that when facing these many competitions on the automobile industry, it is necessary to determine the relationship between the other companies and their potential in the market, (McGuigan, & Harris, 2014). Among the major problems facing GM, competition is amongst them and it should be noted that, the company is at the forefront of curbing this problems. But in order to study and obtain valid information, the company has turned to study the market and look for data and variables concerning the competition they are facing.
As a result, the company has carried many other researches, but the most efficient strategy they should ploy is the use of linear regression, to support and compare different given variables. Comparing different variables is important, but the essential is determining the best possible outcome from the variables. Therefore, linear regression is the strategy of comparison and studying two given variables (x and y), in order to determine the distribution through a fitting straight line. The conditions that can be used in the study are essential in determining the clarity of attaining the effectiveness of the method. Comparing data and frequency of distribution of the variable is important, but the most important aspect about linear regression is supporting the findings and determ...