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    Regression analysis - sources and forecasting

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    What are examples in which regression analysis is used for forecasting?
    What are some primary and secondary sources of data that may be used in correlation and regression analysis?

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    Suppose we want to use the personal income to help us forecast auto-sales. Personal income is considered as a predictor of auto-sales, as the more income consumers have to spend, the more money they will tend to spend on automobiles. On the other hand, auto-sales is a strongly seasonal variable, whereas personal income is not. An ...

    Solution Summary

    An explanation as to the sources of data for regressions and how it can be used for forecasting