Big D Incorporated is nearing completion of its portfolio of recommendations for the outdoor sporting goods company. There are a wide range of measures that could be of value to the Board of Directors to consider.
Think of each measure as being a paint stroke in a corporate picture. By itself, it may not have much value. However, when combined with others, a picture is formed. The more variables examined regression, the clearer the picture. For example, consumer age, income, gender, background, industry, and interests could provide guidance to the best marketing approach to take.
Although past data are used to indicate the future, the social and economic impact of the coronavirus needs to be considered. What are the impacts to unemployment, income disruption, and recovery plan by each state?
Clearly state variables that you would utilize in your path that you are recommending. Utilize a regression model to determine if the recommendation is to expand into the new market or to not expand. Ensure that you provide adequate justification for your recommendations.