[SOLVED] Imagine you were shown prior student feedback on the course and one comment was
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Imagine you were shown prior student feedback on the course and one comment was “I am doing Business major X, why do I have to do a statistics course? It is not relevant”. Unfortunately, you do not know which major, X the student was referring to. Select the number of Business Majors at RMIT equal to the number of people in your group and illustrate an example of a simple or multiple regression model relevant to each of the selected majors. Explain and interpret the relevance of the regression model to the discipline major.
ANSWER
SELECTED BUSINESS MAJORS FROM RMIT
- Digital Marketing
- Global Trade Operations
- Financial Markets
DIGITAL MARKETING
Regression analysis is a statistical method for modeling relationships between different variables (dependent and independent). It is used to describe and analyze relationships in data. Predictions can also be made using regression analyses, whereby the relationships in the data would be used as a basis for the forecast and generated by a prediction model. Regression and correlation analyses are considered to be part of multivariate analytical methods and are used in many different areas, including science, statistics, finance, and now also online marketing, in order to analyze and partly predict the costs and turnover of products, campaigns, channels, and advertising media.
Regression analyzes are used in online marketing, for example, to understand the customer journey using web analytics data or to support multi-channel marketing with reliable data. In practice, such analyses are complex and require professional know-how and knowledge. But the results can be very clear and tangible, depending on the model. For example, if attribution modeling is used for checking multiple channels like……CONTINUED
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