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In the scenario below define the dependent and independent variables Linear regressions can be used in business to evaluate trends and make estimates or forecasts.
In the scenario below define the dependent and independent variables Linear regressions can be used in business to evaluate trends and make estimates or forecasts. For example, if a company's sales have increased steadily every month for the past few years, by conducting a linear analysis of the sales data with monthly sales, the company could forecast sales in the coming months. An important use of linear regression is prediction. For example, suppose a realtor has access to a dataset that gives the size of houses in a neighborhood, in square meters, along with their prices. Linear regression could be applied to this dataset to model the relationship between house size and price
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