September – December 2023 Wk6 DQ – Advanced Statistical Concepts and Business Analytics

Business & Finance

Question:Please answer each of the following questions in detail and provide examples for better clarity wherever applicable. Provide in-text citations. In answering the following questions please include choice of significance level and the effect of p values1. Logistic Regressiona. Explain the logistic regression model, the independent variables and the dependent variable, assumptions of the model, as well as the objectivesb. Given the data, what approach is taken to construct the model?c. Explain the effect of multicollinearity in logistic regression, and how multicollinearity is detectedd. Explain the hypotheses on coefficients of the regression and how the results of testing these hypotheses are interpreted about significance of these coefficients? Include both unidirectional and bidirectional situationse. How do you interpret the effect of significant coefficients?f. How are the distribution of the observed residuals of the constructed model tested for normality?g. What is the coefficient of determination, and what is its significance?h. How can the regression model be used for prediction?2. Discriminant Analysisa. Explain the discriminant analysis model, the independent variables and the dependent variable, assumptions of the model, as well as the objectivesb. Given the data, what approach is taken to construct the model?c. Explain the effect of multicollinearity in discriminant analysis, and how multicollinearity is detected?d. Explain the hypotheses on coefficients of the model and how the results of testing these hypotheses are interpreted about significance of these coefficients? Include both unidirectional and bidirectional situationse. How do you interpret the effect of significant coefficients?f. How the distribution of the observed residuals of the constructed model are tested for normality?g. What is the coefficient of determination, and what is its significance?h. How can the model be used for prediction?i. What is the confusion matrix in discriminant analysis?Note:1. In answering the above questions, you can provide examples formulated according to the model’s setting without actually constructing the solution.2. Need to have at least 1 peer-reviewed article as the reference and textbook as the reference3. Need in-text citation4. Please find the attachments as the power points of the course for reference.5. Textbook Information:Bowerman, B., Drougas, A. M., Duckworth, A. G., Hummel, R. M. Moniger, K. B., & Schur, P. J. (2019). Business statistics and analytics in practice (9th ed.). McGraw-HillISBN 97812601874966. Please find the Course Learning Outcome list of this course in the attachment7. Need to explain in detail and provide examples

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