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University of Tasmania *

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Business

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Jun 22, 2024

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docx

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1 Table of content Scatterplot of the data and regression analysis The answer to Q. a ----------------------------------------------------------- (3) Seasonal Patterns The answer to Q. b. ---------------------------------------------------------- (4) Business reporting best practices and steps will help business reports stand out The answer to Q. c ------------------------------------------------------- (4 - 5) Reference list ------------------------------------------------------------------------- (8) TTEC605 Data analytics
2 Q.1). Scatterplot of the data and Regression analysis As there is a clear upward trend in the data, but fluctuations deviate from a straight line, a linear trend does not seem to fit these data well. The data would not adequately represent the changes in the data over time if a linear trend were to be fitted to the data. A linear trend is a straight line that is used to model a pattern in data over time. The slope and y-intercept of the line are calculated using the least squares method. Once we have the final plot, we can see that the graph does indeed exhibit a distinct linear trend. The purchase of airline tickets has undoubtedly increased over the years. When it comes to airline ticket sales in 2019, the month of November is when they reach their highest level. The customer value changes and manifests a behaviour during specific months and during certain seasons. Total ticket sales have surpassed 3,000, just like in the months of June, May, and November. While the number of customers rises annually in January, there are fewer customers overall than in other months. i. e 2619. TTEC605 Data analytics
3 Q.2) Seasonal Patterns These sales data show that there is a seasonal pattern. Sales are typically higher in May, June, July, October, and November and lower in January, February, March, August, and September. The seasonal component can be used to forecast future values by first separating it from the trend and residual components using a seasonal decomposition. This method divides the data into three parts: the trend component, which captures the long-term changes in the data; the seasonal component, which captures the regular fluctuations in the data; and the residual component, which captures the random fluctuations in the data that are not explained by the trend or seasonal components. Once the seasonal component has been determined, it can be used to predict future values under the presumption that the pattern will persist. Q.3 TTEC605 Data analytics
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