Assignment
Forecasting & Methods Class
Multiple regression analysis.
1. - First, what is multiple regression analysis? Try to think of a real-world example related to your line of business and/or real-world experiences...
2. - What is an important dependent variable that you've worked with in the past (whether it be sales, profits, demand, retention, satisfaction, etc.)?
3. - Based on your experiences, what are some independent variables that you could use to predict your example dependent variable -
i.e., that you could use to "construct" a forecasting model?
4. - What would happen if one (or more) of those independent variables was excluded from your model?
5. - Finally, what are some additional challenges we face in conducing multiple regression analysis?