Purchase Solution

The Purpose of Using Regression Analysis

Not what you're looking for?

Ask Custom Question

What is the purpose of using regression analysis? How may it be used to formulate strategies? Provide examples related to strategy formulation and implemenation.

How is regression analysis used in forecasting? Provide examples.

Purchase this Solution

Solution Summary

The solution explains the purpose of regression analysis in forming strategies and forecasting (econometrics) in 293 words.

Solution Preview

Regression analysis helps us understand how the typical value of the dependent variable changes when any one of the independent variables is varied, while the other independent variables are held fixed. Regression analysis may be used to formulate strategies because it allows us to predict values based on the existing pattern (and without regressions, these patterns would just be a bunch of random numbers).

Consider this example; ...

Purchase this Solution

Free BrainMass Quizzes
Measures of Central Tendency

Tests knowledge of the three main measures of central tendency, including some simple calculation questions.

Know Your Statistical Concepts

Each question is a choice-summary multiple choice question that presents you with a statistical concept and then 4 numbered statements. You must decide which (if any) of the numbered statements is/are true as they relate to the statistical concept.

Terms and Definitions for Statistics

This quiz covers basic terms and definitions of statistics.

Measures of Central Tendency

This quiz evaluates the students understanding of the measures of central tendency seen in statistics. This quiz is specifically designed to incorporate the measures of central tendency as they relate to psychological research.