Correlation and Regression

| February 11, 2014

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The PIRON Software Company currently develops marketing software for primarily service-based organizations. The leaders of the organization are interested in developing a prediction equation for their business. Revenue is the measure that interests them most. The other variables of interest include the following:
Lengths of contracts
Numbers of employees in clients’ organizations
Ages of clients’ companies
Answer the questions below in essay format. Your essay must include an introduction, a body, and a conclusion, and it must address all relevant parts of each question. Your response should be a minimum of 150 words in length and include both the appropriate statistics and support for the analysis and interpretation. Make sure to cite any source you use. Proper citation format for a source includes the name of the author(s), the title of the work, the date of the publication, and the page number if you directly quote the source.
Identify the predictive equation and the variables. Determine if the selected variable would be sufficient for addressing the variation in the model. Support your conclusions
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