Write a business report, of maximum 1,500 words, to recommend two to three specific action steps or strategies for the chosen audience. These actions must be based on the findings out of a regression analysis. Those findings need to be explained throughout the paper. The paper must draw from other sources -scholarly academic or business publications- either constraining or reinforcing the arguments. The paper must also include a limitations or risks section that outlines which elements were left out of the regression analysis, or which wrongful conclusions could be derived from it. Include a suggestion on how a different study/approach -what data or control experimentation is missing- could lead to a more final conclusive result.
Students will source their own data either by option 1) working with their own dataset of interest from their current/past job/business, or 2) by using existing publicly available data. Students are welcomed to run by the instructor their proposed dataset prior to engaging in this endeavor.
Suggested approach/structure of the paper
Describe the business problematic and the variables in your dataset.
Define which is the variable of interest, which business outcome you wish to explain/influence.
Run multiple regressions to understand which variables are related, offer a high explanatory value.
Which is the single most important factor that explains the chosen business outcome.
Could there be relationships that are not linear? Attempt to square a variable where it would make sense that a U-Shape relationship was found.
Are there any variables that caused you to be surprised because of a high p-value, coefficient, or because of a low change in R-Square? Could you explain why indeed these ‘surprising’ variables/findings defy the common “wisdom” in your business?
Using the model with the best R-Square? How much explanatory power does your model have? Which other variables not considered in your model, if added, could improve the explanatory % of your model? How could you collect data on those variables?
When writing your report, choose an audience to whom this report could be useful: your boss, your team, your client, the leadership team, a regulator. Write your business report thinking of them and explain in business terms -avoid using statistics jargon like R-Square or p-value- what your regressions outputs and model comparisons mean for them. Which actions should they take as a result of that?
Sources: Your paper must include at least four peer-reviewed sources. No matter what topic you choose, there will be more than a handful of scholars who already wrote/investigated the same topic. Lookup the scientific literature to learn more about your problematic, and strengthen your paper by quoting those scholarly academic sources.
UK English!
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