Regression Analysis

The most compelling challenge faced by management is the accurate estimation of demand, cost, and profit relations. Not only must the range of important factors that affect demand, costs, and profits be determined, but the relative magnitude of each influence must also be assessed. Regression analysis is a powerful and extremely useful statistical technique that describes the way in which one important economic variable is related to one or more other economic variables. Although there are clear limitations to the technique, regression analysis is often used to provide successful managers with valuable insight concerning a variety of significant economic relations. Given the widespread success of regression analysis in real-world applications, it is well worth gaining a careful understanding of the technique.

Was this article helpful?

0 0
Your Retirement Planning Guide

Your Retirement Planning Guide

Don't Blame Us If You End Up Enjoying Your Retired Life Like None Of Your Other Retired Friends. Already Freaked-Out About Your Retirement? Not Having Any Idea As To How You Should Be Planning For It? Started To Doubt If Your Later Years Would Really Be As Golden As They Promised? Fret Not Right Guidance Is Just Around The Corner.

Get My Free Ebook

Post a comment