Quantitative Business Analysis
Instructions
Bivariate RegressionRegression analysis is a powerful and commonly used tool in business research. One important step in regression is to determine the dependent and independent variable(s).In a bivariate regression, which variable is the dependent variable and which one is the independent variable?What does the intercept of a regression tell? What does the slope of a regression tell?What are some of the main uses of a regression?Provide an example of a situation wherein a bivariate regression would be a good choice for analyzing data.
Answer
Dependent and Independent VariablesIn bivariate regression, the variables are denoted as Y and X. the independent variables take the X-axis while the dependent variables are plotted on the Y-axis. The independent variable in bivariate regression is one which the researcher has control over, and it directly affect the dependent variable. The dependent variable, on the other hand, is one that being tested in the experiment. The research has no control over it. Intercept and Slope of RegressionThe intercept of regression, usually labeled as the constant, represents the value of Y when all X is equal to zero. In a scenario where X is equal to zero, the intercept denotes the value of Y. in an event where X is never equal to zero, the intercept lacks any intrinsic meaning the intercept also mark...
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