Define a correlation and provide an example
Correlation and Causality
Watch the “Correlation and Causality” video.
Define a correlation and provide an example
Define causality?
Explain if correlation causes causality.
Provide evidence with an example.
Learning Activity: Using Time Series to Analyze Business Trends
Watch the “Using Time Series to Analyze Business Trends” video.
• Identify the four components of time series.
• Provide an example of each component and how it might be used in business
Explain if this data becomes obsolete over time.
DQ2 Forecasting
Discuss the following:
• Explain what you have learned throughout this course with probability and how you think that will affect your forecasting decisions in your current or future company.
• Predict how you will use probability in your current or future company?
DQ3 Linear Regression
Resource: Case Study 12.1 in Chapter 12 of Essentials of Business Statistics.
Click the Sushi Restaurant Data Set link.
Calculate the linear regression in item 1 of the case study.
Discuss the following:
• Explain if simple regression or multiple regression is more appropriate for making predictions in this case.
• Predict what will happen to sales based on unemployment rate and the level of advertising
• Justify your predictions.
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