What is the purpose of regression analysis

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Reference no: EM132796505

Problem 1: What is the purpose of regression analysis?

Option 1: To calculate the coefficient of determination
Option 2: To provide a visual analysis of a graphical representation of the relationship between two variables
Option 3: To measure the extent to which changes in one variable are associated with changes in another variable
Option 4: To determine the best-fitting line among a set of data points

Problem 2: Which of the following is not a data limitation that can undermine the credibility or usefulness of regression analysis?

Option 1: Extreme data points may not reflect normal operations
Option 2: Regression analysis does not provide any indication about the reliability of its results
Option 3: Predictions based on historical data may not accurately forecast future performance
Option 4: All of these are limitations

Reference no: EM132796505

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