Reference no: EM131074987
Forecasting & Methods Class
Multiple regression analysis.
1. First, what is multiple regression analysis? Try to think of a real-world example related to your line of business and/or real-world experiences...
2. What is an important dependent variable that you've worked with in the past (whether it be sales, profits, demand, retention, satisfaction, etc.)?
3. Based on your experiences, what are some independent variables that you could use to predict your example dependent variable - i.e., that you could use to "construct" a forecasting model?
4. What would happen if one (or more) of those independent variables was excluded from your model?
5. Finally, what are some additional challenges we face in conducing multiple regression analysis?
Note: Please add 2 references
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