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Case Study: Linear regression provides statisticians with an opportunity to model the relationship between an independent variable and 1 or more dependent variables. In the case of 1 dependent variable, the analysis is called simple linear regression. If there are 2 or more explanatory variables, it is called multi-variate or multiple linear regression.
Respond to the following in a minimum of 175 words:
Question 1: Explain the concepts of linear regression, including what you are evaluating, when it should be used, and the differences between a dependent variable and independent variable.
Question 2: Describe 1 example from your own personal or professional experiences where you could apply a linear regression. Discuss how knowing that information helped you.
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The variable cost per case, including both manufacturing and selling costs, is $80. What is the total contribution margin for next quarter
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