Using the Email marketing (EMMA) dataset (attached), build a simple regression model that predicts Total cus
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Get it written →Using the Email marketing (EMMA) dataset (attached), build a simple regression model that predicts “Total customer value” (Y) from “Tenure” (X). . .
- Use the Excel capabilities for Simple Regression (hint: data -> scatterplot -> fit trendline)
- Use the algebra that we walked through to come up with the simple regression equation. You will need the following components to determine the slope ‘b’ and intercept ‘a’ values of the equation:
- Correlation, r (you can use Excel’s CORR( ) function to calculate this),
- Standard deviations for X and Y (use population standard deviations, stdev.p( ),
- Means for X and Y,
- What would you conclude about the relationship and ability to predict Value from Tenure?
Note: that answers to ‘1’ and ‘2’ above should all match if calculated correctly.
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