This is a real-world project that involves analyzing and evaluating a business of your choice that is in your local area. By completing this project, you will demonstrate what you have learned in this course by analyzing a business.
As you can see, data are gathered, recorded, and then analyzed to determine the findings.
A car wash may use the data to hire more people during certain times, to refill soap in the machine during down times, or even raise the price on certain washes for more revenue. You have to think critically and creatively when you observe your business.
Describe the business and how quantitative analysis can be used to make it more efficient.
Explain the quantitative processes you used to analyze the business.
Determine if the business exhibits any type of distribution? What type? Explain your findings.
Outline the decision-making steps with regard to your analysis.
Is there correlation or causation in your findings? Explain.
Examine the coefficient of determination and the coefficient of correlation, and deduce their meanings. In your response to this, explain the four values of the correlation coefficient.
Summarize your data findings from the business you selected.
Display any computations you used .
