Chapter 16. Regression Analysis: Popular Sales Forecast System
Regression analysis is a statistical procedure for estimating mathematically the average relationship between the dependent variable and the independent variable(s). Simple regression involves one independent variable, price or advertising in a demand function, whereas multiple regression involves two or more variables, such as price and advertising together. In this chapter, we will discuss simple (linear) regression (i.e., Y = a + bX) to illustrate the least-squares method. Multiple regression is reserved for a forecasting text.
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