Question

Regression analysis.

Hint:

Ensure the assumptions of regression analysis are met to avoid misleading results.

Answer 1

Regression analysis is a statistical method used for modeling the relationship between a dependent variable and one or more independent variables.
Step 1: Types of Regression Analysis:
1. Linear Regression: This method is used when the dependent variable is continuous, and the relationship with the independent variable(s) is linear.
2. Multiple Regression: This extends linear regression to include multiple independent variables.
3. Logistic Regression: Used when the dependent variable is categorical, commonly for binary outcomes (e.g., success/failure).
Step 2: Assumptions of Regression Analysis:
1. Linearity: There should be a linear relationship between the dependent and independent variables.
2. Independence: Observations should be independent of one another.
3. Homoscedasticity: The variance of errors should be constant across all levels of the independent variable.