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    Question on use of regression output in business

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    List the various statistics and example of a business use.

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    The key statistics reported in a regression output, which are critical for business uses are:

    R - Coefficient of Correlation: The correlation between the predicted and the actual value of dependent variable

    R square - Coefficient of Determination: The amount of variation in the dependent variable explained by the independent variable

    Standard Error: This signifies the standard error between the actual and predicted values in the regression model. If the error is high, the model needs to be investigated carefully.

    ANOVA Table: The ...

    Solution Summary

    This posting contains answers to following questions on output of regresion.