Bivariate analysis for marketing managers

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Objective

The objective of this tutorial is to explain how bivariate analysis works.This analysis can be used by marketers to make decisions about their pricing strategies, advertising strategies, and promotion stratgies among others.

Bivariate analysis is one of the simplest forms of statistical analysis. It is generally used to find out if there is a relationship between two sets of values (or two variables). That said, it usually involves the variables X and Y (statisticshowto.com).

• Univariate analysis is the analysis of one (“uni”) variable.
• Bivariate analysis is the analysis of exactly two variables.
• Multivariate analysis is the analysis of more than two variables.

Dataset - We will be using two online datasets available in R for this tutorial

plot(y3 ~ x2, data = anscombe, pch = 16)
abline(lm(y3 ~ x3, anscombe), col = "grey20")

Question 1:is there a relationship between x and y? If so, what does the relationship look like?

Your answer here -

Yes there is a positive linear relationship.

library(readr)
library(readr)
ad_sales <- read_csv('https://raw.githubusercontent.com/utjimmyx/regression/master/advertising.csv')

## New names:
## Rows: 200 Columns: 6
## ── Column specification
## ──────────────────────────────────────────────────────── Delimiter: "," dbl
## (6): ...1, X1, TV, radio, newspaper, sales
## ℹ Use `spec()` to retrieve the full column specification for this data. ℹ
## Specify the column types or set `show_col_types = FALSE` to quiet this message.
## • `` -> `...1`

plot(sales ~ TV, data = ad_sales)

Question 2:Is there a relationship between TV advertising and Sales? If so, what does the relationship look like?

Your answer here -

Yes there is a positive linear relationship as well. The data is more of a positive cluster than a straight line.

Question 3:Can you plot the relationship between radio advertising and Sales? If so, what does the relationship look like?

 plot(sales ~ radio, data = ad_sales)

###Your answer here - There is no relationship between radio advertising and sales. Just a cluster of data.

Question 4: Explain one of the functions you learned in your own words.

Your answer here -

One of the functions I learned was how to create a graph between two different variables.

References

Bivariate Analysis Definition & Example https://www.statisticshowto.com/bivariate-analysis/#:~:text=Bivariate%20analysis%20means%20the%20analysis,the%20variables%20X%20and%20Y.

https://www.sciencedirect.com/topics/mathematics/bivariate-data