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Discuss importance of regression analysis in statistics

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Reference no: EM132403852

After reading Chapter 6, consider how we can apply regression analysis to a business situation. Let's take company sales as an example. We know that the sales performance of products and services is affected by marketing, demand, economy, reputation, and so on. Does this mean that company leaders should apply statistical analysis to determine the right mix of components (i.e., marketing, demand, and so on) that affect sales performance?

In addition, discuss the importance of regression analysis in statistics.

DQ requirement: Note that the requirement is to post your initial response and two additional response posts. I recommend your initial posting to be between 200-to-300 words.

Reference no: EM132403852

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