Discussion board
What types of business situations or problems might best lend themselves to multiple linear regression? What types may not? When do you anticipate using a multiple linear regression model in your postgraduate, professional experience? Explain.
Solution Preview
Multiple linear regression is a concept that involves the relationship between more than one variables that fit into the context of a linear equation. The different business situations should all consider the occurrence of these variables and attain the best ways of dealing with the various scenarios (Seber, & Lee, 2012). One good example of a business engagement that fits into the multiple linear regressions is the real estate business whose terms of operation are never defined or determined by a single concept. Looking at the selling price of a house in a particular location, there are several variables that establish its estimate cost.
(359 words)