Discussion - Explain the purpose of regression analysis

Business Data

Discussion Question

This discussion addresses the following module outcome:

• MO2: Explain the purpose of regression analysis and provide examples of its use in business. (CO1, 3, 4, 5)

What is an example of a problem that you feel could be solved using a regression model? Try to think of one in your chosen career field or one that you have interest in solving.

In your post, specify what the problem is that you’d like to solve and how you would specify a model that would address the problem.

• What variables might impact on the outcome variable?
• Are they quantitative or categorical?
• You don’t have to actually collect data or run a regression, —we’re just looking for how you would analyze the problem using a regression model.

Post a thorough response to the questions.