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Linear regression in forecasting future conditions

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Reference no: EM131423452

Respond to one of the discussion questions below.

1. Most businesses use some form of linear regression in forecasting future conditions. Give an example of the use of regression analysis at your organization. What were the independent and dependent variables? How accurate were the estimates obtained from the regression analysis? Do you feel that this is a valid method of estimating the future?

2. A multiple regression model is one that has more than one independent variable. Propose a business problem that would be best solved by multiple regression analysis. How would you evaluate the quality of the multiple regression model?

3. Apply your knowledge of quantitative forecasting models by explaining which models would be most useful to your organization. How would it use the models, and how would it improve the quality of decisions made by the organization?

Reference no: EM131423452

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