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Regression Analysis And Curve Fitting

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What is the purpose of using regression analysis?
How might a regression analysis be used to formulate strategies?
Provide examples related to strategy formulation and implementation.

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Solution Summary

This solution discusses regression analysis of data. In regression analysis, data is used to determine a matching mathematical function that best approximates the data. A graphic of a "best curve" matched to data is attached.

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Regression analysis is done to predict things that might happen based upon observed data. Since the development of data from a particular population or sample of a population is typically limited in scope, we develop a trend that is regarded as a "best fit" function based upon an averaging of the data. Interpretation of the trend may ...

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