7:59 PM (CST)Assignment DetailsAssignment DescriptionUsing the information from Units 1, 2, and 3, Big D Incorporated will be examining how multivariate techniques can serve the organization best and how they can be applied to itsnew client, the outdoor sporting goods customer. The Board of Directors has asked you to research and explain 3 major ways in which multivariate statistics are utilized in thisscenario. In this case, be sure to justify your decision.Research using the library and the Internet to find an example of how a real company has used each of the following multivariate techniques:Factor analysisMultidimensional scalingCluster analysisThis can be considered a benchmark if you can justify how it could benefit Big D Incorporated.Write a summary to upper management explaining the following:How can each multivariate technique be utilized in Big D Incorporated, and what purpose would each serve?Which technique is your preferred method, and how is your chosen multivariate technique different from the other two techniques?What will the Board of Directors learn from your selected technique and more importantly, how will it contribute to the overall decisionmaking process? Ensure that yourexplanation is clear and concise.Please add your file.For assistance with your assignment, please use your text, Web resources, and all course materials.Reading AssignmentEssentials of Business Statistics: Chapters 7, 9, 10, 12, & 13; Appendix B: Properties of the Mean and the Variance of a Random Variable and the CoVarianceRead the following article:Choudhury, A. (2019, April 16). Why regression analysis is the backbone for enterprises. Analytics India Magazine. Retrieved from https://analyticsindiamag.com/whyregressionanalysisisthebackboneforenterprises/Assignment ObjectivesDetermine appropriate sampling methodologies for business settings and situations.Explain the applications and limitations of statistical hypothesis testing as applied to business situations
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