University of Phoenix Statistics Discussion

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Answer the following IN YOUR
OWN WORDS. Respond to each of the following in a minimum of 175 words. It will
be ran thru a plagiarism checker, thanks.

The Tasty Sub Shop Case:

A business entrepreneur uses simple linear regression
analysis to predict the yearly revenue for a potential restaurant site on the
basis of the number of residents living near the site. The entrepreneur then
uses the prediction to assess the profitability of the potential restaurant
site.

And

The QHIC Case:

The marketing department at Quality Home Improvement Center
(QHIC) uses simple linear regression analysis to predict home upkeep
expenditure on the basis of home value. Predictions of home upkeep expenditures
are used to help determine which homes should be sent advertising brochures
promoting QHIC’s products and services.

1. the difference in the type of prediction in both cases and
provide rational of the reasons that these predictions were used.

2.how important are predictions of home upkeep ?

3. How can you use this in everyday life situations?

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