Regression

#Terms

WHAT IS… ?

Regression Analysis is ananalysis technique that is used to analyze the relationships between two or more numerical variables. It can also provide a measure of the strength of these relationships, and among other techniques, it can quantify the uncertainties in extrapolating from sample to population.

     

    HOW IS IT USED ?

    Regression analysis is a statistical technique for estimating the relationships among variables. It is used extensively in econometrics, social sciences, and many other fields dealing with data analysis and prediction. Examples of regression analysis include predicting home sales based on markets factors such as population density, real estate prices, etc., predicting the demand for auto parts based on previous shipments by product category, determining demand for parts using sales data or the price elasticity of demand.

       

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