Summers Hardy

06/08/2024 · Primary School

Some surprising trends emerged in reviewing the data to predict NASCAR drivers' earnings. It might seem natural to assume that winning races is the most significant factor in earnings. Still, the analysis showed that consistent performance-finishing in the Top 10 -is the best predictor. The top 10 finishes explained \( 80.6 \% \) of the variation in winnings, making them the most reliable indicator. |The combined regression model, which used all four factors (Poles, Wins, Top 5 finishes, and Top 10 finishes), explained \( 82 \% \) of the variation in winnings. Of these, the Top 10 finishes had the most significant impact, with each additional finish adding approximately \( \$ 117,100 \) to a driver's earnings. Surprisingly, poles and wins didn't show much significance compared to placement consistency. Based on the managerial analysis report, teams should focus on achieving steady, high-level performance to secure consistent Top 10 finishes. Some key steps include prioritizing vehicle reliability, improving pit stop efficiency, and fine-tuning race strategies. While winning races is still exciting and valuable, focusing solely on wins or poles may not maximize earnings. Future studies might help to include other factors, like sponsorship deals or drivers' average placements across races, for a more complete picture of what drives financial success in NASCAR. Review your peer's post. In a minimum of 100 words each, respond in a substantive manner, and provide information that they may have missed or may not have considered . regarding the inferences that can be drawn from the application of Multiple Regression in business and econiomics. Do you agree with their conclusions? Why or why not?