Mention the uses of Regression Analysis?

1.	Mention the uses of Regression Analysis?
Answer» Use of Regression Analysis: 1. Regression means going back and it is a mathematical measure showing the average relationship between two variables. 2. Both the variables may be random variables. 3. It indicates the cause and effect relationship between the variables and establishes functional relationship. 4. Besides verification it is used for the prediction of one value, in relation to the other given value. 5. Regression coefficient is an absolute figure. If we know the value of the independent variable, we can find the value of the dependent variable. 6. In regression there is no such spurious regression. 7. It has wider application, as it studies linear and nonlinear relationship between the variables. 8. It is widely used for further mathematical treatment.

Answer»

Use of Regression Analysis:

1. Regression means going back and it is a mathematical measure showing the average relationship between two variables.

2. Both the variables may be random variables.

3. It indicates the cause and effect relationship between the variables and establishes functional relationship.

4. Besides verification it is used for the prediction of one value, in relation to the other given value.

5. Regression coefficient is an absolute figure. If we know the value of the independent variable, we can find the value of the dependent variable.

6. In regression there is no such spurious regression.

7. It has wider application, as it studies linear and nonlinear relationship between the variables.

8. It is widely used for further mathematical treatment.

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