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+ Linear regression is a simple statistical process and so is easy to carry out.
+ Some non-linear relationships can be converted to linear relationships using simple transformations.
- The error structure may not be suitable for regression (independent, identically distributed).
- The regression model used may not be appropriate or an important variable may have been omitted.
- The residual error may be too large.
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What are the advantages and disadvantages of data collection methods in statistics?
There are both advantages and disadvantages of data collection methods in statistics. The main advantages are the metrics and correlation one can draw from statistics. The disadvantages stem from sampling errors.
What are the advantages of time-series methods?
Since time-series forecasts are relatively easy and inexpensive to construct, they are used quite extensively.
What are the advantages and disadvantages in deductive method?
There are clear advantages to the deductive method. These include that the person is more likely to learn and remember how they got to the answer in the future and also they remember the stages they have gone through. A major disadvantage is that it does take longer than other methods.
Do Time series methods base forecasts only on past values of the variables?
They make forecasts based on both present and past values of the variables. Stated in non-technical terms, they assume that somehow history repeats itself, i.e. that some patterns in the time series behavior of data are recurrent. As a consequence, the past is useful to predict the future.
Scientific method what advantages does it have over other methods of solving problems?
urmmm .. shows cause and effecthas high control which lead to high reliability & validity
What are the advantages and disadvantages of external communication methods?
Advantages: 1. there ar no advantages or disadvantages and if you are doing something that includes this then you are boring!!
What are advantages and disadvantages of cooking methods?
i am doing course work in health and nutrition and one of the answers it is asking me is what is the advantages and disadvantages of different cooking methods
What are the advantages and disadvantages of data collection methods in statistics?
There are both advantages and disadvantages of data collection methods in statistics. The main advantages are the metrics and correlation one can draw from statistics. The disadvantages stem from sampling errors.
Advantages or disadvantages of coding methods in a cost centre?
not alot
What are the advantages and disadvantages of billing?
Advantages .open invioce methods is that it is conducive to offering discounts for prompt payments. Disadvantages .open invoice methods is the added complexity required to main information about the status
What are the advantages and disadvantages of sampling methods?
Save time Easyto use
What are the advantages of time-series methods?
Since time-series forecasts are relatively easy and inexpensive to construct, they are used quite extensively.
What are the disadvantages and advantages of dynamic system development method?
give the disadvantages of each of the three system development methods?
The advantages and disadvantages of Relative Dating Methods?
Advantages include: good for identifying which species appeared first Disadvantages: does not provide an age in years Hope I helped!
What are the advantages and disadvantages of the rise and fall method in surveying?
1, describe the methode of reducing the levels and thier relative advantages and disadvantages 2, writetypes of levelling instruments and methodes of leveling
What are advantages and disadvantages of living in a resource-based community?
Richer resources Better Transportation Methods.
What are the advantages and disadvantages of various NDT methods?
The advantages to certain NDT methods is that most of the inspections can be done while the part is still on the main structure, they also allow for bulk inspections. Some disadvantages to the methods are that some of them can be very time consuming as well as susceptible to human error in reading of the results.
