The multiple linear regression analysis is one of the most reliable and accurate tools for cost estimating. The validity of the analysis depends on the relevance of the independent variables selected.Please respond to the following:Discuss what independent variables should be selected to estimate the maintenance costs for a manufacturing company using multiple linear regression analysis.Explain why these independent variables were selected. What are other variables should be considered, but decided not to include? Explain why.

Multiple linear regression analysis is a statistical method used to model the relationship between a…

Answered: The multiple linear regression analysis…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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The multiple linear regression analysis is one of the most reliable and accurate tools for cost estimating. The validity of the analysis depends on the relevance of the independent variables selected.

Please respond to the following:

Discuss what independent variables should be selected to estimate the maintenance costs for a manufacturing company using multiple linear regression analysis.
Explain why these independent variables were selected. What are other variables should be considered, but decided not to include? Explain why.

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