The Statistical Modeling of Retail Business Processes in Nyakach District

Abstract

Multivariate statistical analysis of retail business processes was done in this study. Multiple predictor variables were included in the regression model. Meta-analysis of the correlations were also used to explore heterogeneity and to estimate central tendency and variation in the effects. It was our observation that many retail businesses started in Nyakach District either don't do well or collapse within the first few years of their operation. Reasons for this trend were numerous and unsatisfactory besides being less quantitatively statistical.It was against this background that we were inspired to statist ically model retail business processes in this region to investigate the effects of capital, business age and floor area among other factors, on business performance using regression and correlation analysis. We built models, vigorously analyzed and interpreted the same in an attempt to examine how value could be created and captured in a business unit. Wehave therefore provided a broad review of literature on business models in which we examined the business models concept through multidisciplinary and subject matter lenses.