Monday, August 12, 2019
Quantitative Methods Assignment Example | Topics and Well Written Essays - 500 words
Quantitative Methods - Assignment Example Therefore, someone seeks to unveil the relationship between the variables. This relationship can assume a status of being positive, negative or null. Positive relationship encompasses denotations as (+ve), Negative by (Ã¢â¬âve) and null by (0) (Asuero & Bueno 2011: p.45). Zero exuberates that there exists extremely no relationship between the variables. Correlation thus becomes useful when trying to gauge relations of sales for the business. Quantitative regression outdoes correlation because of the information of ease in predictions. Graphs entailing reliant and independent variables produce lines of finest fit (Twomey& Kroll, 2008: P.531). The best-fit precisions enable the company to explore in proliferating merchandise encompassing required exactitude in the marketplace. One indisputable importance of the quantitative techniques would be information that aid in estimation of variables. For instance, sales exemplify a variable that counts most to a firm. Therefore, sales made at instances denote undeviating or indirect correlation to matters of taste, earnings, and cost. Attention to these matters leads to improved sales because of greater quality (Parasumaran.et.al, 2007: P 345). Regression entails the importance of exemplifying trend within certain durations. Therefore, this helps in keeping the trend in sales through revising production. Evaluating trends ensures that there entails observance to current precisions involving customers. The depiction of such trends ensures that focus is paramount in firms. Regression technique also exemplifies effectiveness of advertising performed to a certain product.