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DSIMGTS FINALS REVIEWER: Mastering Business Analytics and Regression Analysis, Exams of Marketing Business-to-business (B2B)

This comprehensive dsimgts finals reviewer document covers a wide range of topics in business analytics and regression analysis, providing detailed explanations and verified answers to various quizzes. The document delves into the fundamentals of computer models, spreadsheets, characteristics of models, benefits of models, problem-solving frameworks, and the intricacies of regression analysis, including concepts like dependent and independent variables, simple and multiple linear regression, regression models, parameters, error terms, and the least squares method. The document serves as a valuable resource for students and professionals seeking to deepen their understanding of these crucial analytical tools and techniques used in the business world.

Typology: Exams

2024/2025

Available from 10/25/2024

hellenah55
hellenah55 🇺🇸

398 documents

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Download DSIMGTS FINALS REVIEWER: Mastering Business Analytics and Regression Analysis and more Exams Marketing Business-to-business (B2B) in PDF only on Docsity! DSIMGTS FINALS REVIEWER New 2024-2025 /Questions With Verified Answers Graded (A+) Quiz :Business Analytics - Answer :A field of study that uses computers, statistics, and mathematics to solve business problems. Quiz :Computer Model - Answer :A set of mathematical relationships and logical assumptions implemented in a computer as an abstract representation of a real-world object of phenomenon Quiz :Spreadsheets - Answer :the most convenient way for business people to build computer models. Quiz :Characteristics of Models - Answer :Simplified, Valid Quiz :Benefits of Models - Answer :Economy, Timeliness, Feasibility, Insight and Understanding Quiz :Problem Solving Framework - Answer :1. Identify Problem 2. Formulate and Implement Model 3. Analyze Model 4. Test Results 5. Implement Solution Quiz :Anchoring Effects - Answer :when trivial factors influence initial thinking about a problem. Quiz :Framing Effects - Answer :how decision-makers view a problem from a win-loss perspective Quiz :Regression analysis - Answer :statistical procedure used to develop an equation showing how two or more variables are related Quiz :Dependent Variable - Answer :*Response *Variable being predicted (y variable) Quiz :Independent variables - Answer :*Predictor Variables *Used to predict the value of the dependent variable (x variable) Quiz :Simple linear regression - Answer :A regression analysis for which any one unit change in the independent variable, x, is assumed to result in the same change in the dependent variable, y Quiz :Multiple linear regression - Answer :Regression analysis involving two or more independent variables Quiz :Regression Model - Answer :equation that describes how y is related to x and an error term Quiz :Simple Linear Regression Model - Answer :y = β0 + β1x + ε Quiz :Parameters - Answer :The characteristics of the population, β0 and β1 Quiz :Random variable - Answer :Error term, ε Quiz :Error term, ε - Answer :accounts for the variability in y that cannot be explained by the linear relationship between x and y