An assessment of the adequacy of a fitted regression model - the residual examination approach Department: Mathematics and Statistics By: kruskalstat Project ID: 4730 Rating: (3.3) votes: 6Rate this project12345 Price:₦3000 Get the Complete MaterialAbstractThe aim of this study was to examine the fitness of a regression model through the assessment of its residual. The study examined how sales volume can be influenced by the amount spent on advertising products or services. Using the regression approach, data sourced from De-Legit Hotels were analyzed. The result of the study indicated that as found by previous studies, the effect of advertisement is significantly related to sales increment. De-Legit Hotels often advertise events on which it spends money on, on analyzing the relationship the study found that the sales volume will increase significantly by 0.34 units when an advertisement advert is done. Ti further verifies the aptness of this estimated model, the residual analysis was conducted and the result indicated that the assumptions of regression analysis was not violated and coupled with the R-square, we found that the result is optimal enough for prediction. The study concluded that residual analysis was efficient in examining the efficiency and adequacy of the fitted regression model, especially when compared with the R-square and the global F-test which both proved adequate in this study. Hence, an increase in the amount spent on the advertisement (covering a wider area of the population) of upcoming events will result to an increasing result in sales volume and this is believed to be very helpful in the decision-making process of the hotel....Preview Download Preview +Other Mathematics and Statistics project topics and materials you might be interested in»Statistical Quality Control of Premier Soap in Soap Manufacturing Industry ( A Case Study of PZ Cusson PLC Aba Abia State)»Statistical analysis of students’ height and weight (case study of federal polytechnic Nekede, Owerri, Imo state) »Statistical analysis of unemployment rate among age groups and geographical locations in Nigeria»Statistical analysis of the problems associated with skill acquisition in Nigeria (a case study of male tailors in Imo state)»Application of linear programming technique to profit maximization in the production of soap (a case study of Promotex industrial and chemical company limited, Nnewi, Anambra state) »Statistical analysis of foster care and adoption rate in Abia state (a case study of motherless babies home Ahiaeke, Umuahia)»Determination of nutritional status of children within the ages of four (4) to ten (10) years using their body mass index (BMI)»Time series analysis on marriage registration in Ilorin, Kwara state»Application of multiple queuing model in evaluating the efficiency of service in UBA bank»Statistical analysis on impact of parental hood on academic performance»Determinant of foreign direct investment in Nigeria and its effect on Nigerian economy: an empirical analysis»Econometrics analysis of gross national income on consumption expenditure of federal republic of Nigeria between (2011)»Statistical analysis of factors affecting crime in Imo state»Statistical study of the queuing pattern at the antinatal division of Federal Medical Center FMC Owerri Imo state»A statistical analysis of coal production in Nigeria - a case study of Nigeria coal corporation from 2000-2009