21. Excel's Solver is used in a time-series weighted moving average problem to: a. Predict estimates for more than one period into the future c. Maximize the MSE b. Minimize the mean square error (MSE) d. None of the above 22. Regarding regression analysis involving only one independent variable: a. The best method for solving is a visual fit of a line to the data; b. The best method for solving requires a “hyperplane" fit t the data. c. The least squares method is mathematically the best way apply it; d. The dependent variable is used to predict the value of the independent variable. 23. The least squares method is based upon: a. Minimizing the unexplained variation. b. Maximizing the unexplained variation. c. Minimizing the explained variation. d. Maximizing the total variation.
Correlation
Correlation defines a relationship between two independent variables. It tells the degree to which variables move in relation to each other. When two sets of data are related to each other, there is a correlation between them.
Linear Correlation
A correlation is used to determine the relationships between numerical and categorical variables. In other words, it is an indicator of how things are connected to one another. The correlation analysis is the study of how variables are related.
Regression Analysis
Regression analysis is a statistical method in which it estimates the relationship between a dependent variable and one or more independent variable. In simple terms dependent variable is called as outcome variable and independent variable is called as predictors. Regression analysis is one of the methods to find the trends in data. The independent variable used in Regression analysis is named Predictor variable. It offers data of an associated dependent variable regarding a particular outcome.
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