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W4 Assignment 1 Discussion
Discussion Question 3
Regression is one of the most widely used statistical techniques. In business, it is often used within the realm of what is known as predictive analytics—estimating the use of statistical techniques to estimate the likelihood or magnitude of future outcomes of interest. However, regression is also an explanatory tool because the regression model explains the variability in dependent variables with the help of one or more independent variables. 
From the marketing management perspective, discuss regression as an explanatory and a predictive tool. What are the major differences between an explanatory and a predictive tool? In terms of the goodness of fit, what is the most important indicator of regression as an explanatory tool and as a predictive tool?
Justify your answers with examples and reasoning.
Discussion Question 5
As a human resources manager, you have been assigned the task of determining how to curtail the high employee turnover rate in your company. You decide to use regression analysis to identify specific factors that have a measurable impact on turnover. Specifically, you are interested in assessing the impact of employee demographics (age, gender, education, etc.) and job-related factors (job type, income, advancement history, length of employment, etc.). However, given the similarity of some of these factors (e.g., education and income or age and length of employment), you are concerned with possible collinearity. How would you determine if collinearity is present in your model? If it is, what would you do to remedy it?
Justify your answers with examples and reasoning.

W5 Assignment 1 Discussion
Discussion Question 2
As a marketing analyst, you are responsible for estimating the level of sales associated with different marketing mix allocation scenarios. You have historical sales data, as well as promotional response data, for each of the elements of the marketing mix. State the differences between the forecasting methods that can be used. Which one would you use and why? If you make any assumptions, state them explicitly.
Justify your answers with examples and reasoning.
Discussion Question 4
You are a brand manager of a toy company, and one of your concerns is the correct timing and allocation of your promotional activities. For the past three years, you have steadily increased the share of the overall budget allocated to the promotional support of your brand's sales. On analyzing the sales for the past three years, you see a lot of variability. You are unable to predict whether your promotional spending increase has resulted in a corresponding increase in sales. What factors would you change to estimate the long-term sales trend?
Justify your answers with examples and reasoning.



W6 Assignment 1 Discussion
Discussion Question 3
In the past several weeks, you have been introduced to a range of statistical data analysis tools. Consider what you have learned in the context of progression of data, information, and knowledge. What are the specific techniques you would consider most helpful in transforming information into knowledge (as opposed to just translating data into information)?
Justify your answer with examples and reasoning.

Discussion Question 4
Experience teaches us that the bulk of the technical material covered in this course will, unfortunately, be forgotten shortly thereafter. If you were to commit just three concepts you have learned in this course to your long-term memory, which concepts would you select and why?
Justify your answer with examples and reasoning.