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Instructions:
BUS 520 Loving Organic Foods Linear Regression Case
You are a consultant who works for the Diligent Consulting Group. In this Case, you are engaged on a consulting basis by Loving Organic Foods. In order to get a better idea of what might have motivated customers’ buying habits you are asked to analyze the factors that impact organic food expenditures. You performed a simple linear regression analysis in the Module 3 Case. Now, you are adding a layer of complexity to that analysis and including more independent variables in your model.
Case Assignment
Using Excel, generate regression estimates for the following model:
Annual Amount Spent on Organic Food = α + b1Age + b2AnnualIncome
+ b3Number of People in Household + b4Gender
After you have reviewed the results from the estimation, write a report to your boss that interprets the results that you obtained. Please include the following in your report:
The regression output you generated in Excel.
Your interpretation of the coefficient of determination (r-squared).
Your interpretation of the global test for statistical significance (the F-test).
Your interpretation of the coefficient estimates for all the independent variables.
Your interpretation of the statistical significance of the coefficient estimates for all the independent variables.
The regression equation with estimates substituted into the equation. (Note: Once the estimates are substituted into the regression equation, it should take a form similar to this: y = 10 +2x1 +1x2 +4x3 +0.9x4)
BUS 520 Loving Organic Foods Linear Regression Case
An estimate of “Annual Amount Spent on Organic Food” for the average consumer. (Note: You will need to substitute the averages for all the independent variables into the regression equation for x, the intercept for α, and solve for y.)
A discussion of whether or not the coefficient estimate on the Age variable in this estimation is different than it was in the simple linear regression model from Module 3 Case. Be sure to explain why it did/did not change.
You decide you want to generate an elasticity coefficient, so you log the following variables in Excel: Annual Amount Spent on Organic Food, Annual Income.
Using Excel, generate regression estimates for the following model:
BUS 520 Loving Organic Foods Linear Regression Case
Log(Annual Amount Spent on Organic Food) = α +b1Age + b2Log(AnnualIncome)
+ b3Number of People in Household + b4Gender
Your interpretation of the coefficient estimates for Log(AnnualIncome).
Your interpretation of the coefficient of determination (r-squared) for this new model.
Data: Download the Excel-based data file: BUS520 Module 4 Case.
Assignment Expectations
Written Report
Length requirements: 3–4 pages minimum (not including Cover and Reference pages). Note: You must submit 3–4 pages of written discussion and analysis.
Provide a brief introduction to/background of the problem, similar to the introduction/background you provided in Module 1 through 3 Case submissions.
Provide a brief comparison of simple linear regression and multiple linear regression.
Provide a written analysis that addresses each of requirements listed under the “Case Assignment” section.
Write clearly, simply, and logically. Use double-spaced, black Verdana or Times Roman font in 12 pt. type size.
Please use keywords as headings to organize the report.
Avoid redundancy and general statements such as “All organizations exist to make a profit.” Make every sentence count.
Paraphrase the facts using your own words and ideas, employing quotes sparingly. Quotes, if absolutely necessary, should rarely exceed five words.
Upload both your written report and Excel file to the Case 4 Dropbox.
BUS 520 Loving Organic Foods Linear Regression Case
RUBRIC |
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Excellent Quality 95-100%
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Introduction
45-41 points The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned. |
Literature Support 91-84 points The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned. |
Methodology 58-53 points Content is well-organized with headings for each slide and bulleted lists to group related material as needed. Use of font, color, graphics, effects, etc. to enhance readability and presentation content is excellent. Length requirements of 10 slides/pages or less is met. |
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Average Score 50-85% |
40-38 points More depth/detail for the background and significance is needed, or the research detail is not clear. No search history information is provided. |
83-76 points Review of relevant theoretical literature is evident, but there is little integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are included. Summary of information presented is included. Conclusion may not contain a biblical integration. |
52-49 points Content is somewhat organized, but no structure is apparent. The use of font, color, graphics, effects, etc. is occasionally detracting to the presentation content. Length requirements may not be met. |
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Poor Quality 0-45% |
37-1 points The background and/or significance are missing. No search history information is provided. |
75-1 points Review of relevant theoretical literature is evident, but there is no integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are not included in the summary of information presented. Conclusion does not contain a biblical integration. |
48-1 points There is no clear or logical organizational structure. No logical sequence is apparent. The use of font, color, graphics, effects etc. is often detracting to the presentation content. Length requirements may not be met |
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BUS 520 Loving Organic Foods Linear Regression Case |
BUS 520 Loving Organic Foods Linear Regression Case