Regression Memo – Assignment Instructions

OVERVIEW:

  • Prepare a 2-page memo to the target of your assigned data set.
  • Explain the regression analysis you have in your Excel file focusing on what the analysis means to the company and without using any of the statistical terms associated with regression analysis.

SCENARIO:

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As a research analyst with Quanta Research Consulting, you were hired to analyze the data from a particular study and write a memo regarding aspects of your analysis and, where appropriate, make recommendations. Your memo should be written to the individual and organization designated in your project theme described in the file BUGN 280 Excel Project Data File Information(See Regression Memo Data Sets Module on Canvas.)

Your memo must include:

  1. Your scatterplot with a regression line (optimally fit line, in Excel this is simply choosing a type of scatterplot chart that includes a line). Edit that and make it easy to understand.
  2. Include your basic regression statistics:  coefficient of determination, standard error, slope, intercept.
  3. In your memo when you explain your regression analysis, make sure you explain in detail why you are using regression, what information is provided by each statistic, and the scatterplot. It should be very clear that you know what each statistic means and can reasonably interpret them in the real world in narrative terms. Make sure it is clear you know the difference between correlation and regression.

SUGGESTIONS ON HOW TO BEGIN:

  1. Look at the sample final memo and compare it to the data set “Airline Arrival Study.” See how the analysis was done to achieve the narrative in the memo.
  2. Review with your peer group your regression data and discuss what the data reveals.
  3. Review with your peer group the statistical terms used. If you need a statistics refresher, see the documents posted on Canvas and review our Berenson text.

FINAL THOUGHTS:

In real life, your boss may give you a task that you may struggle to complete. You may feel overwhelmed and not know how to begin. Take a deep breath and start by gathering all the information you need first. (In this case, you have an example of the final product you’ll need to produce. Now you just need to map out your steps to get there). If you don’t know something, research it. For this assignment, if you don’t remember your stats terms, remember this:

  • Google has millions of videos and websites explaining and discussing regression.
  • Your Berenson customized supplement etext (found on your Pearson page) can give you a stats refresher.
  • The library has a ton of stuff, as well
  • Your stats-loving friends can help you, too.

Your boss is not going to help you every step of the way. Be resourceful. Leverage everything you can to help you. This is what it’s like on the job. Deliver on your task on time and with the information your boss asks for.

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