Multiple Regression Discussion-This week we are… 1 answer below »

This week we are extending what we learned in simple linear regression to mulitple regression -multiple regression modelsinclude more than oneindependent variable to explain the variation weobserve in thedependent (or forecast)variable. Buildingmultiple regression models is a complex process.With this increased level of complexity comes a number of issues that need to be considered.Moreover, judgement becomes increasingly importantat several points along the model buildingprocess. What kinds of decisions have to be madewhen developing a multiple regression model?When does judgement enter into the model building process? What are some of the issues involved in using multiple regression models to forecast?If you can, answer these questionswithinthe context of an example,which may or may not be related to your experience/area of expertise.

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Week 06 Discussion – Multiple Regression Analysis:
This week we are extending what we learned in simple linear regression to mulitple regression – multiple regression models include more than one independent variable to explain the variation we observe in the dependent (or forecast) variable.  Building multiple regression models is a complex process.  With this increased level of complexity comes a number of issues that need to be considered.  Moreover, judgement becomes increasingly important at several points along the model building process.  What kinds of decisions have to be made when developing a multiple regression model?  When does judgement enter into the model building process?  What are some of the issues involved in using multiple regression models to forecast?   If you can, answer these questions within the context of an example, which may or may not be related to your experience/area of expertise.
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