Regression Analysis
Correlation only indicates the degree and direction of relationship between two variables. It does not, necessarily connote a causeeffect relationship. Even when there are grounds to believe the causal relationship exits, correlation does not tell us which variable is the cause and which, the effect. For example, the demand for a commodity and its price will generally be found to be correlated, but the question whether demand depends on price or viceversa; will not be answered by correlation.
The dictionary meaning of the ‘regression’ is the act of the returning or going back. The term ‘regression’ was first used by Francis Galton in 1877 while studying the relationship between the heights of fathers and sons. …show more content…
Regression analysis is widely used for prediction (including forecasting of timeseries data). Use of regression analysis for prediction has substantial overlap with the field of machine learning. Regression analysis is also used to understand which among the independent variables are related to the dependent variable, and to explore the forms of these relationships. In restricted circumstances, regression analysis can be used to infer causal relationships between the independent and dependent variables.
A large body of techniques for carrying out regression analysis has been developed. Familiar methods such as linear regression and ordinary least squares regression are parametric, in that the regression function is defined in terms of a finite number of unknown parameters that are estimated from the data. Nonparametric regression refers to techniques that allow the regression function to lie in a specified set of functions, which may beinfinitedimensional.
The performance of regression analysis methods in practice depends on the form of the datagenerating process, and how it relates to the regression approach being used. Since the true form of the datagenerating process is not known, regression analysis depends to some extent on making assumptions about this

Application Of A Regression Analysis
1241 Words  5 Pagesthe same explanatory variables appear in the loglog equations, which is in fact OLS is equivalent to seemingly unrelated regression, it is not possible to improve the separate leastsquare estimation using a seemingly unrelated regression technique. Table 1 gives some details on the variables employed in the analysis. 4.1 Multicollinearity The purpose of regression analysis, we define first: N: Number of observation n: Number of independent variable y: Sample of ‘N’ observations on one dependent…

Regression Analysis
1301 Words  6 PagesIntroduction This presentation on Regression Analysis will relate to a simple regression model. Initially, the regression model and the regression equation will be explored. As well, there will be a brief look into estimated regression equation. This case study that will be used involves a large Chinese Food restaurant chain. Business Case In this instance, the restaurant chain 's management wants to determine the best locations in which to expand their restaurant business. So far the most…

Regression Analysis
19751 Words  80 Pagesintervals and prediction intervals from simple linear regression The managers of an outdoor coffee stand in Coast City are examining the relationship between coffee sales and daily temperature. They have bivariate data detailing the stand 's coffee sales (denoted by [pic], in dollars) and the maximum temperature (denoted by [pic], in degrees Fahrenheit) for each of [pic] randomly selected days during the past year. The leastsquares regression equation computed from their data is [pic].…

Regression Analysis for Demand Estimation
1065 Words  5 PagesDemand Estimation by Regression Method – Some Statistical Concepts for application ( All the formulae marked in red for remembering. The rest is for your concept) In case of demand estimation working with data on sales and prices for a period of say 10 years may lead to the problem of identification. In such a case the different variables that may have changed over time other than price, may have an impact on demand more rather than price. In order to void this problem of identification what…

Analysis on Inflation Regression Model
5737 Words  23 PagesAnalysis on Inflation Regression Model Done by: Hassan Kanaan & Fahim Melki Presented to: Dr. Gretta Saab Due on: Tuesday, January 25, 2011 Outline: I. Introduction A. Definition of Variables B. Type of Variables II. Background and Literature Review A. Inflation and Unemployment B. Inflation and Oil Prices C. Inflation and GDP D. Inflation and Money Supply III. Analysis A. SPSS 17 analysis B. EViews 5 analysis IV. Conclusion and Recommendation V. Indexes…

Essay on Regression Analysis
1680 Words  7 PagesIntroduction Our regression analysis was done on OMNITRANS fuel consumption. This has been an ongoing issue for OMNITRANS where there seems to be an inconsistency with there CNG fuel consumption. There continues to be variance in what is consumed each day compared to the amount of miles driven. This issue is very important to OMNITRANS because it makes it very difficult to plan for future use with the CNG industry. OMNITRANS wants to have a consistency with CNG use so they can plan for budgeting…

Regression Analysis
1134 Words  5 Pagesflown on Northeast Airlines, a commuter firm serving the Boston hub, are shown for the past 12 weeks: Week 1 2 3 4 5 6  Demand 17 19 15 21 20 23  Problem 7 [6] A careful analysis of the cost of operating an automobile was conducted by a firm. The following model was developed: Y = 4,000 + 0.20X where Y is the annual cost and X is the miles driven. a) If the car is driven 15,000 miles…

Regression Analysis
705 Words  3 PagesRegression Analysis and Business Rules of thumb, instinct, convention, and simple financial analysis are frequently no longer adequate for addressing such common decisions found in business such as makeversusbuy, facility site selection, and process redesign. Generally, the forces of competition are commanding a need for more efficient decision making at all levels in companies. "Decision analysts provide quantitative support for the decisionmakers in all areas including engineers, analysts…

Regression and Correlation Analysis
2189 Words  9 Pagesperform the regression and correlation analysis for the data on CREDIT BALANCE (Y) and SIZE (X) by answering the following. Generate a scatterplot for CREDIT BALANCE vs. SIZE, including the graph of the "best fit" line. Interpret. The scatter plot of Credit balance ($) versus Size show that the slope of the 'best fit' line is upward (positive); this indicates that Credit balance varies directly with Size. As Size increases, Credit Balance also increases vice versa. MINITAB OUTPUT: Regression Analysis:…

The Regression Analysis
976 Words  4 Pages3. The slope of the linear regression line is 0.0647. This is shown in the equation of the line, on the right hand side of the chart. The Yintercept of the linear regression line is 127.64. The equation is Y=0.0647X127.64. The regression analysis, including residuals is in the Excel file attached. Part II This project was aimed at creating some reasonable forecasts of the trend of gas prices in the United States in the next period of time, based on an analysis of a series of annual gas prices…
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