Business Analytics Exam questions and answers graded A+

Business Analytics Exam questions
and answers graded A+
Regression - ANS✅✅used to develop an equation showing how the variables are related



Main objectives of regression - ANS✅✅Establish if there is a relationship between two variables
(More specifically, establishing if there is a statistically significant relationship between the two),
Forecast new observations



Linear regression - ANS✅✅A regression analysis for which any one unit change in the independent
variable, x, is assumed to result in the same change in the dependent variable, y



Simple Linear Regression Equation - ANS✅✅A + bX (or y = B0 + B1X + e)



y - ANS✅✅dependent variable



x - ANS✅✅independent variable



b0 - ANS✅✅constant (y intercept)



b1 - ANS✅✅slope or coefficient



e - ANS✅✅error term



Multiple Linear Regression - ANS✅✅A regression analysis involving two or more independent
variables



multiple linear regression model - ANS✅✅y=B0+B1x1+B2x2+B3x3+...



b0 (multiple regression) - ANS✅✅y-intercept



b1 (multiple regression) - ANS✅✅parameter associated with x1