BUSINESS ADMINISTRATION
BUSINESS ANALYTICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Regression analysis
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Data mining
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Time series analysis
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Factor analysis
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Detailed explanation-1: -Regression analysis is a set of statistical methods used for the estimation of relationships between a dependent variable and one or more independent variables. It can be utilized to assess the strength of the relationship between variables and for modeling the future relationship between them.
Detailed explanation-2: -Simple regression analysis is a statistical procedure used to summarize a trend or relationship between two variables. The result is a line or curve on a graph, representing a model (a mathematical function), which describes the general relationship in the data.
Detailed explanation-3: -Regression analysis is a statistical procedure for developing a mathematical equation that describes how one dependent and one or more independent variables are related.
Detailed explanation-4: -A regression is a statistical technique that relates a dependent variable to one or more independent (explanatory) variables. A regression model is able to show whether changes observed in the dependent variable are associated with changes in one or more of the explanatory variables.
Detailed explanation-5: -The most commonly used techniques for investigating the relationship between two quantitative variables are correlation and linear regression. Correlation quantifies the strength of the linear relationship between a pair of variables, whereas regression expresses the relationship in the form of an equation.