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What is the signficance of regression analysis in quantitative technique How does it help a manager in the decision making process?
Is used to study the relationship between or among variables, for example, the relationship of household income to product sales. It can be used to determine how increases in household income affect sales volume. If management wants to study the relationship between sales, and income, interest rates, and education, they would use Multiple Regression Analysis, Correlation Analysis refers to the study of how strong or accurate a relationship is, as well as such technical factors as measurement fit, deviation, and error. It often is used by companies to study demand, pricing, supply and cost curves.
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Applications of quantitative technique in business?
A. Quantitative Techniques with reference to time series analysis in business expansion. B. Quantitative techniques are mathematical and reproducible. Regression analysis is an example of one such technique. Statistical analysis is also an example of a quantitative technique. C. Quantitative techniques are applied for business analysis to optimize decision making IE profit maximization and cost minimization). It covers linear programming models and other special algorithms, inventory and production models; decision making process under certainty, uncertainty and risk; decision tree construction and analysis; network models; PERT and CPA business forecasting models; and computer application.
What quantitative techniques are applied for business analysis?
A. Quantitative Techniques with reference to time series analysis in business expansion. B. Quantitative techniques are mathematical and reproducible. Regression analysis is an example of one such technique. Statistical analysis is also an example of a quantitative technique. C. Quantitative techniques are applied for business analysis to optimize decision making IE profit maximization and cost minimization). It covers linear programming models and other special algorithms, inventory and production models; decision making process under certainty, uncertainty and risk; decision tree construction and analysis; network models; PERT and CPA business forecasting models; and computer application.
What is the adjective of the word regression?
of, pertaining to, or determined by regression analysis: regression curve; regression equation. dictionary.com
What is the difference between classical regression analysis and spatial regression analysis?
how can regression model approach be useful in lean construction concept in the mass production of houses
What is the quantitative analysis process?
The quantitative analysis process entails systematic and descriptive analysis. This is aimed at providing insights in statistics and is a valuable process.
