Reference no: EM133185311

Question 1.

What is an instrumental variable in linear regression? How do instrumental variables improve causal inference? Please answer both of these questions and give an example of an instrumental variable. 

Question 2.

In Chapter 9, the focus of study is the Dichotomous Variable. Briefly construct a model (example) to predict a dichotomous variable outcome. It can be something that you use at your place of employment or any example of practical usage. Please address each component of the discussion board. 

Question 3.

In Chapter 10 the focus of the material is identifying and assessing data. One of the chief concerns of identifying and assessing data is extrapolation and interpolation. Please explain both of these concepts and give a reason why either of these scenarios would occur.

Attachment:- Predictive Analytics for Business Strategy.rar