Linear regression

Linear regression

In statistics, linear regression is an approach to model the relationship between a scalar dependent variable y and one or more explanatory variables denoted X. The case of one explanatory variable is called simple linear regression. For more than one explanatory variable, it is called multiple linear regression. (This term should be distinguished from multivariate linear regression, where multiple correlated dependent variables are predicted,^{[citation needed]} rather than a single scalar variable.)

In linear regression, data are modeled using linear predictor functions, and unknown model parameters are estimated from the data. Such models are called linear models. Most commonly, linear regression refers to a model in which the conditional mean of y given the value of X is an affine function of X. Less commonly, linear regression could refer to a model in which the median, or some other quantile of the conditional distribution of y given X is expressed as a linear function of X. Like all forms of regression analysis, linear regression focuses on the conditional probability distribution of y given X, rather than on the joint probability distribution of y and X, which is the domain of multivariate analysis.

Linear regression was the first type of regression analysis to be studied rigorously, and to be used extensively in practical applications. This is because models which depend linearly on their unknown parameters are easier to fit than models which are non-linearly related to their parameters and because the statistical properties of the resulting estimators are easier to determine.

Linear regression has many practical uses. Most applications fall into one of the following two broad categories:

• If the goal is prediction, or forecasting, or reduction, linear regression can be used to fit a predictive model to an observed data set of y and X values. After developing such a model, if an additional value of X is then given without its accompanying value of y, the fitted model can be used to make a prediction of the value of y.
• Given a variable y and a number of variables X₁, ..., X_p that may be related to y, linear regression analysis can be applied to quantify the strength of the relationship between y and the X_j, to assess which X_j may have no relationship with y at all, and to identify which subsets of the X_j contain redundant information about y.

Linear regression models are often fitted using the least squares approach, but they may also be fitted in other ways, such as by minimizing the "lack of fit" in some other norm (as with least absolute deviations regression), or by minimizing a penalized version of the least squares loss function as in ridge regression. Conversely, the least squares approach can be used to fit models that are not linear models. Thus, although the terms "least squares" and "linear model" are closely linked, they are not synonymous.

Contents

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• 1 Introduction to linear regression
• 1.1 Assumptions
• 1.2 Interpretation
• 2 Extensions

How to Write a Marketing Plan

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How to Write a Marketing Plan

Marketing Starts with Your Customers

Your marketing plan details how you intend to meet your customers’ needs and communicate the benefits of your products or services to them. When deciding about market positioning, pricing, promotions, and sales, your customers should be top of mind.

The Four Key Components of Your Plan

Your marketing plan should describe how you will segment your target market, how you will position your products or services compared to your competition, what your pricing strategy will be, and how you will effectively reach and influence your customers.

1. Your Target Market

Your target market is a group of customers that has a similar need for a product or service, money to purchase the product or service, and willingness and ability to buy it.

To identify your target market and best serve your market, you need to:

• Know your customers
• Understand what your customers need
• Why they buy

Because you have limited time, resources, and budget, you cannot be everything to everyone. To effectively reach customers, you need to segment your target market into one primary market on which you focus most of your energy, and at most three secondary markets.

You can segment your target market along four key characteristics:

• Demographic: Who are your customers? Include information such as:
• Age
• Gender
• Family size
• Family life cycle (single, married with or without kids, divorced)
• Income
• Occupation
• Education
• Religion
• Nationality
• Ethnicity
• Geographic: Where do they live? Include information such as:
• Their country
• Region (e.g. Pacific, Prairies, Eastern seaboard)
• City and density (rural, urban)
• Climate

·  Psychographic: Why do they buy? Include information such as:

• Social class (lower, middle, upper)
• Lifestyle (leisure activities, exotic vacationer, saver)
• Personality (gregarious, authoritarian, ambitious)

2. Your Market Positioning

Positioning is the image of your product or service that you create in the mind of your target market. Your goal is to create an image that’s unique, differentiated, and definable in the mind of your customers. To position your product or service, try the following:

It’s essential that all of your marketing materials support the position or image you are creating.

It’s also critical for you to know your present and potential competitors, both direct and indirect. Examine their strengths and weaknesses relative to yours. This will help you select a market position that provides a competitive advantage.

Your overall position should emphasize those factors that your customers value most, and those which make you stand out from your competition.

3. Your Pricing Strategy

Price is a very important factor in your marketing plan. It affects:

Key factors that affect your pricing strategy include:

4. Your Promotion Strategy

Promotion is the activity of informing, persuading, and influencing your customers’ purchase decisions.

The type and scope of promotional activities that you need to undertake will depend on what the promotion is intended to do, and what goals and objectives you want to achieve. There are a number of reasons for promotional activities:

Your choice of promotional activities will be determined by a number of factors, including:

There are four general types of promotional activities:

Top 10 Punctuation Tips

Top 10 Punctuation Tips

If you have a good grasp of punctuation, your writing will flow well and be easy to understand. Here are ten easy-to-remember tips to help you to brush up your punctuation.

You'll find more detailed advice in the dictionary's centre section, and you could also test yourself with this quick quiz.

1. Apostrophes

Apostrophes are used to show belonging. With a singular noun or most personal nouns, add an apostrophe plus s:

The girl's eyes were blue.	(the eyes of the girl)
We met at Ben's party.	(the party given by Ben)
I'll be back in a month's time.	(a period of a month)

TIP: with a plural noun that already ends in -s, add an apostrophe after the s:

The mansion was converted into a girls' school.	(a school for girls)
They might be bankrupt in three months' time.	(a period of three months)

2. Apostrophes

Apostrophes are used to show that letters or numbers have been left out:

It's going to be a hot day.	(short for it is)
They'll be back in two weeks.	(short for they will)
The severe winter of '98.	(short for 1998)

TIP: words like its, hers, yours, and ours (possessive pronouns) are exceptions to the rule about using an apostrophe to show belonging. So, if it's is short for 'it is' or 'it has' (it's going to be a hot day), write it with an apostrophe, but if the meaning is 'belonging to it', then there's no apostrophe:

The bird preened its feathers.
Each case is judged on its own merits.

3. Apostrophes

GATT into WTO 1995

Q: How GATT started??

A: The General Agreement on Tariffs and Trade (GATT) was a multilateral agreement regulating international trade. According to its preamble, its purpose was the "substantial reduction of tariffs and other trade barriers and the elimination of preferences, on a reciprocal and mutually advantageous basis." It was negotiated during the United Nations Conference on Trade and Employment and was the outcome of the failure of negotiating governments to create the International Trade Organization (ITO). GATT was signed in 1947 and lasted until 1994, when it was replaced by the World Trade Organization

 in 1995.

GATT eight Rounds…

The first round of GATT took place in 1947 in Geneva and ended in 1948. Although the talks failed to create the ITO they did produce the GATT agreements that 23 out of the 45 Allies signed. 45,000 tariff concessions were made influencing over $10 billion in trade which comprised 20% of the total global market at the time. The US specifically developed the "unconditional most favored nation principle." Congress granted the President temporary and provisional power over the GATT negotiations and all nations trading with the USA would be bound by the same rules as the nation with the least restrictions. The US senate blocked the approval of the ITO out of fear that it may have been misused to regulate cartels in Europe.

The second round took place in 1949 in Annecy, France. The main focus of the talks was more tariff reductions, around 5000 total.

The third round occurred in Torquay, England in 1951. About 8,700 tariff concessions were made totaling the remaining amount of tariffs to three-fourths of the tariffs which were in effect in 1948.

The fourth round returned to Geneva in 1955 and lasted until May 1956. $2.5 billion in tariffs were eliminated or reduced.

The fifth round occurred once more in Geneva and lasted from 1960 to 1962. The talks were named after Under Secretary of State General of the US, Douglas Dillon, who first proposed the talks. Along with reducing over $4.9 billion in tariffs, it also yielded discussion relating to the creation of the European Economic Community (ECC).

The sixth round was the last to take place in Geneva from 1964 until 1967 and was named after the late US President Kennedy in his memory. Concessions were made on $40 billion worth of tariffs. Some of the GATT negotiation rules were also more clearly defined.

The seventh round of GATT took place in Tokyo from 1973 until 1979. The talks managed to reduce several trade barriers in addition to $300 billion in tariffs. Negotiations covered a range of topics including government procurement, customs valuation, subsidies, countervailing measures, antidumping, standards and import licensing.

BANKING FUNCTIONS

BANKING  FUNCTIONS 
 

Definition:-

Banking has been defined as “Accepting for the purpose of lending & investment, of deposit of money from the public, repayable on demand order or otherwise and withdraw able by cheque, draft or otherwise.”

Meaning:-

Banking means transacting business with a bank; depositing or withdrawing funds or requesting a loan etc.

}  HISTORY

}  The development of banking is evaluation in nature. The origin of the word bank can be traced back to the German word ‘Banck’ and Italian word ‘Banco’ which means heap of money.

Banking is an old  concept in India. It was present in ancient Vedic times. There were bankers known as ‘Sheth’, ‘Shah’, ‘Shroff’ or ‘Chettiar’ who were performing the function of bank.

}  PRIMARY FUNCTIONS

}  The main functions of banks are accepting deposit and lending loans:

A – accepting deposits

  1. Fixed deposits:- These deposits mature after a considerable long period like 1 year or more than that the rate of interest is fixed the amount deposited cannot be withdrawn before maturity date.

   2. Current A/C deposit:- These are mainly maintain by business community to facilitate frequent transaction with big amounts. Generally no rate of interest or very low rate of interest is paid on this account. 

  3. Savings bank A/C:- It is kind of demand deposits which is generally kept by the people for the sake of safety. These facility is given for small saver and normally a small rate of interest is paid.

  4. Recurring deposit A/C:-  In case of recurring deposit the fixed amount is deposited in a bank every month for a fixed period of time.

}  B-Lending loans

  1. Call loans:- These loan are called back at any time. Normally, this loans are taken by bill brokers or stock brokers.

  2. Short term loans:- These are sanctioned for a period up to 1 year.

  3.Medium term loans:- These are sanctioned for the period varying between 1 and 5 years.

}  Long term loans:-

These loan are sanctioned for a period of more than 5 years it includes:

1.     Overdraft:- The bank grants overdraft facility to its reliable and respectable depositors. It enables companies, firms and businessmen to withdraw amount over and above their actual balance in their current account.

2.     Cash credit: Under this facility, the bank allows the borrower to withdraw cash against certain security.

3.     Bills of Exchange:- The bank provide funds to their customers by purchasing or discounting bills of exchange. The bank charges commission up to the maturity period of bills.

}     SECONDARY FUNCTIONS

Marketing Strategy

3.2 Marketing Strategy 

Our company internet and computerized services will be depending on quality and affordable prices, every person is our company customer. Our company will be promoted by cables, internet, by customer’s word and inside & outside look of the company and office location.

5.4.1  Positioning

Computer composing & e-kiosks centre is our business and named as AL-NOOR Computer composing & e-kiosks centre. It is a services based business. Our services will be depending on quality and affordable prices, every person is our company customer. Satisfied customer will be best promoter of our company. It is also advertised by the internet, cable, brochures in the market.

5.4.2 Pricing Strategy

S.no:	Product	Service charges Price RS.	Competitors Price RS.	Discounted price
1	C.V                    per page	15	15	-
2	Full page           per page	20	20	-
3	Photo copy        per page	3	3	-
4	CNIC, Passport, Arm & Driving license verification	100	100	-
5	Utilities bills (NADRA kiosk)	As per company  rate	As per company  rate	-
6	Easy load     (all companies)	As per company  rate	As per company  rate	-
7	Easy paisa (HBL, Mobicash, Telenor)	As per company  rate	As per company  rate	-
8	Online application	50	50	-
9	Other internet services or results and news  etc	20	20	-

Strategy and Plans

3. Strategy and Plans

Our business will be forever and whole city will be covered in due time. All customers will see to our business and success. Our business will run with quality services to customers. We need some skilled persons to work in office; we need assets as computer, photo copier machine, printer, skinner, inventory, furniture & fixture, internet facility, mobiles for easy paisa and easy load and other utilities services. We need some portion of finance and good relation with customers. There is no any other environment affect our business except competitors. Our business will be sole proprietorship and all decisions will be taken by owner.

3.1 Overall strategy

We shall start business in the mid city  and purchased furniture & fixture, office equipments from market on cash and credit and run the business with promotion as best qualities of services.

3.1.1 Strategy Elements

Our business relies on quality services, affordable price, customer satisfaction and no compromise on quality.

Niche of the business plan

2.3.1    Niche

At our business point old market Mirpur Mathelo we can easily establish our business. Our business location is the best and suitable place of the market where we can grow the business shortly and will not suffer from any trouble to cover the market. This location is itself promoted and advertised because it is the mid, main and interface point of the city. We shall save every

Competition and competitive analysis

2.3.1    Competition and competitive analysis

Competition

There are two direct competitors before our business named 1^st is Computer World near Mukhtiarkar office Mirpur Mathelo and 2^nd one is the Mehran computers at old bus stand Mirpur Mathelo. Both are away from our business point, 1^st is left side about 500 meters and 2^nd is right side about 600 meters far. Our location will be as a triangle size. Both competitors are not in one row neither in one entrance but both have different entrance and angles of city Mirpur Mathelo. Some other persons were started business besides my competitors offices but they failed due to shortage of services and unskilled persons and bad behavior with customers. There are many other indirect competitors whose provide the utility bills paid service or easy load balance to mobiles only. Even every business has different business. Kiran Electronics deals with the service of utility bills paid, easy load balance and mobile cards only. We have learned that establish the business at different and another place of city where no any other is direct competitor. If we establish the business before any already running business that we may have about all services to meet the people requirements and have skilled and best behavior human staff with modern technology that provide the services to customers. We have advantage of mid place of the city and fair price of services and low cost of advertising. Our business point is the easy and reachable place to the peoples in every time. We have more advantage that we provide the about all the modern/technological services/facilities to peoples at one place. Our new business disadvantage is that we are new in this business and shall advertise it and remain honest with our business and don’t think to move elsewhere. We will convert these disadvantages into advantages with our honesty, hardworking, good thinking and our well & best services of the company to peoples who come at our business.

 

COMPETITIVE ANALYSIS

MARKETING ANALYSIS

2.3    MARKETING ANALYSIS

2.3.1  Economics

Our company market is local area of Mirpur Mathelo city and the rural area of taluka Mirpur Mathelo (little villages and cities around the Mirpur Mathelo) after this whole District Ghotki because the Mirpur Mathelo is the District Head Quarter of District Ghotki. We have about 1/3 share of market of Mirpur Mathelo because our business in the mid city of Mirpur Mathelo at old market & sabzi mandi. There are many public schools near our location like as by named Modern Public Higher Secondary School, Cambridge Public Higher Secondary School, Atchison Public High School, Islamia Public School, Bhitai Public School, Shah Latif Public High School and other government & private Schools. Our business location is the interface of the city Mirpur Mathelo that is linked with Ice factory bypass bus stop Mirpur Mathelo. Outsider peoples left the conveyance at bypass and enter in the city by this root. There is a big demand of this business like our business computer composing, e-kiosks centre, money transfer, printing machine and easy load centre. This is a new business at this point of location but it will be grow up fastest through promotion and advertising the business products/services. The customers will move to this easy access point and enjoying it. Insha-Allah this business will be developed very soon like a rising star. There are many opportunities to grow up at this point; there is no any other company to facilitate the peoples like us near this location. There is no any direct competitor at this location, there are many indirect competitor like easy load shops only. There is no any business to money transfer, photo copier machine, computer composer at this venue. There are some difficulties to avail the place at this point to start the business because all the shops are booked already for some other business and offices. We have finance problem also to start the business. There is low marketing cost; this point is also promoted by itself because it is the interface point of city Mirpur Mathelo.

Company Descriptions

Company Descriptions

Our company is sole proprietorship based company. We will start our business related with the Information Technology and computerized services. Our company vision is to provide the facilities to easy access of the peoples of the area with government, non government, private industries and the institutions in the country and the outside of the country through internet.

We market our products / services to the students, younger’s and also elders , who have need of preparing  C.V , compose the notes, money transfer,  paying utility bills, print out the photocopies of their relevant papers and easy load the balance throughout the mobile networks services all over the Pakistan, verification of CNICs, driving license, arm license, passports etc.

Our services are very essential because day by day the ratio of younger’s, students increased and also all the facilities have been transferred to computerized systems in the world.