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Multiple Regression as Predicting Techniques

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How can multiple regression be used as a predicting (not a forecasting) technique? Are there principles to be wary of when predicting (e.g., the influence of outliers, predicting outside of the range of given values, or extrapolating)?

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Solution Summary

The expert examines multiple regression as a predicting techniques. The principles to be way of when predicting are determined.

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Multiple Regression can be used as a predicting technique by associating or exploring relationship between dependent variable and independent variables.

For example: Let's say that the objective of a research study is to understand the impact of investments in marketing vehicles on sales. This research problem can be addressed with the help of Multiple Regression by associating the sales of the company and the ...

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