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Section 2: Analysis Interpret the scatter plots and designate the type of relationship using regression parameters (increasing/positive, decreasingegative, or no relationship) observed in each one.
Section 2: Analysis
- Interpret the scatter plots and designate the type of relationship using regression parameters (increasing/positive, decreasingegative, or no relationship) observed in each one.
- Determine what you can conclude from these relationships. You need to include a copy of each chart in your report.
Section 3: Expansion Criteria
- What are the expansion criteria and why?
Section 4: Recommendations and Implementation;
- Based on the findings, assess which expansion criteria seem to be more effective. Could any expansion criterion be changed or eliminated? If so, which one(s) and why?
- Based on the findings, does it appear as if the loyalty card is positively correlated with sales growth? Would you recommend any changes to this marketing strategy?
- Based on the findings, recommend market positioning that targets a specific demographic. (Hint: Are younger people patronizing the restaurants more than older people?)
- Include how the local culture and communities are represented in your market position in your recommendations.
- Indicate what information should be collected to track and evaluate the effectiveness of your recommendations. How can this data be collected? (Hint: Would you use surveys/samples or census?)
\f\fScatterplots and regression equations Sales/SqFt vs. College Sales/SqFt vs. Median Age Graduates 1,200.00 1,200.00 y = -2.2452x + 499.34 1,000.00 R2 = 0.0036 y = 6.6996x + 244.03 1,000.00 R2 = 0.1169 800.00 800.00 Sales/Sq.Ft. ($) 600.00 Sales/Sq.Ft. ($) 600.00 400.00 400.00 200.00 200.00 0.00 0.00 0 10 20 30 40 50 0.0 10.0 20.0 30.0 40.0 50.0 Bach. Degrees (%) Median Age (Years)Sales/SqFt vs. Median Loyalty Card vs. Sales Income Growth 1,200.00 35.00 y = -0.0002x + 431.11 1,000.00 R2 = 0.0005 30.00 y = -3.5596x + 14.628 R2 = 0.0881 25.00 800.00 20.00 Sales/Sq.Ft. ($) 600.00 15.00 +..... Sales Growth (%) 10.00 400.00 5.00 200.00 0.00 -5.00 1.00 .2.00 3.00 4.00 0.00 0 50000 100000 150000 -10.00 Median Income ($) -15.00 Loyalty Card (%)Additional (not required) graph to justify recommendations Median Income vs. College Graduates 140000 y = 1410.3x + 25701 R2 = 0.3045 120000 100000 80000 Median Income ($ 60000 40000 20000 0 O 10 20 30 40 50 Bach. Degrees (%)
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