Q1. After reading Chapter 6, consider how we can apply regression analysis to a business situation. Let’s take company sales as an example. We know that the sales performance of products and services is affected by marketing, demand, economy, reputation, and so on.

Does this mean that company leaders should apply statistical analysis to determine the right mix of components (i.e., marketing, demand, and so on) that affect sales performance?

In addition, discuss the importance of regression analysis in statistics?

Requirement:

200 – 300 words

Deadline: 1 day

Q2. For your midterm assignment, please make sure to read Chapter 6 of your textbook.

Please provide comprehensive responses to the following:

(a) In the use of a categorical variable with n possible values, explain the following:

1. Why only n – 1 binary variables are necessary

2. Why using n variables would be problematic

(b) Describe how logistic regression can be used as a classifier.

(c) Discuss how the ROC curve can be used to determine an appropriate threshold value for a classifier

(d) If the probability of an event occurring is 0.4, then

1. What is the odds ratio?

2. What is the log odds ratio?

Requirements:

– Typed in a word document.

– Please write in APA Style and include at least Five (5) reputable sources.

– The complete paper should be between 800-to-1000-words.

Deadline: 4 days.

Chapter 6 pdf attached.

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