what is reggression analysis
Answers
ɪɴ sᴛᴀᴛɪsᴛɪᴄᴀʟ ᴍᴏᴅᴇʟɪɴɢ, ʀᴇɢʀᴇssɪᴏɴ ᴀɴᴀʟʏsɪs ɪs ᴀ sᴇᴛ ᴏғ sᴛᴀᴛɪsᴛɪᴄᴀʟ ᴘʀᴏᴄᴇssᴇs ғᴏʀ ᴇsᴛɪᴍᴀᴛɪɴɢ ᴛʜᴇ ʀᴇʟᴀᴛɪᴏɴsʜɪᴘs ʙᴇᴛᴡᴇᴇɴ ᴀ ᴅᴇᴘᴇɴᴅᴇɴᴛ ᴠᴀʀɪᴀʙʟᴇ ᴀɴᴅ ᴏɴᴇ ᴏʀ ᴍᴏʀᴇ ɪɴᴅᴇᴘᴇɴᴅᴇɴᴛ ᴠᴀʀɪᴀʙʟᴇs.
Answer:
A decision making tool !!
Explanation:
In this information age every business strive to evaluated its each and every steps in numbers, and to evaluate subjective things into numbers this technique is used.
For instance, we see customer care takes our feedback or we ask to rate your DP's (:) from 1-10, here numbers are being assigned to the subjective thing, similarly in business variables are defined to know the efficiency of a process.
Once data is collected in form of survey, that data is plotted on x y chart using statistical software like Excel, Once our data is plotted, we may begin to see correlations that which process is effective, interrelated, or which one is less effective and basis of that information we can redefine our business process.
*** There are statics terms and formulas involved in the explanation, but for the sake of simplicity, and concept understanding skipped those one***