What purpose does a multiple regression analysis serve? Give an example of how it might be used in marketing research. How is the strength of multiple regression measures of association determined?
Purpose of Multiple Regression
Regression analysis examines the relationships among variables.
The University of Texas in Austin (2012) mentioned that the purpose of multiple regressions is to analyze the relationship between metric or dichotomous independent variables and a metric dependent variable. If there is a relationship, using the information in the independent variables will improve our accuracy in predicting values for the dependent variable".
In other words, multiples regression utilizes historical data to forecast the patterns and trends.
Use of Multiple regressions in marketing research South India-based Magic Foods is a typical example of how multiple regression is used in marketing research.
South India Magic foods has been ...
The solution describes the purpose of multiple regression analysis, its interpretation and how it can be used in marketing research.