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Generic Business Strategies and Advantage of Tourist Companies - Statistics Project Example

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The paper “Generic Business Strategies and Advantage of Tourist Companies” aims to measure the effects of the three predictor variables on the competitiveness of various companies in the tourism industry including museums, hotels and tour companies…
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Generic Business Strategies and Advantage of Tourist Companies
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Download file to see previous pages In business research, multiple regression is applied for two main purposes that are closely related. The first purpose it for prediction of relationships. When using it for this purpose the researcher seeks to find the linear combination of a set of predictor variables that give the best estimates for a dependent variable across a number of different observations (Franses and Paap, 2004). The accuracy of prediction of the multiple regressions model is measured by the magnitude of R2 as well as the statistical significance of the entire model. On the other hand, if the prediction provided by the model is statistically significant overall, then multiple regression analysis is used to draw conclusions about all the individual predictor/independent variables (Wei, 2006). Basically, the statistics obtained from multiple regression models are applied in testing the hypotheses regarding the effects of individual independent variables on the dependent variable (Cryer and Chan, 2008).
 Multiple regression has been basically described as a statistical technique that allows a researcher to predict an entity’s score on one variable on the basis of its scores on several other variables (Mason and Perreault, 2001). The variable on which the score is being predicted is referred to as the dependent variables while the others are the predictor variables. In this exercise, multiple regressions are applied in the measurement of the relationship between generic business strategies and competitive advantage in tourist companies. In this case, competitive advantage is the dependent variable while the predictor variables consist of three major factors including cost leadership strategy, differentiation strategy, and focus strategy. ...Download file to see next pagesRead More
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