Regression Analysis and Credit Card Spending
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Questions and Answers

Regression analysis is used to

  • Calculate the average value of the dependent variable
  • Determine the relationship between dependent and independent variables (correct)
  • Identify the most powerful predictor of the dependent variable
  • Predict the future revenues of a company

    • Which of the following is an independent variable in the given scenario?

  • The company's future revenues
  • The consumer's age (correct)
  • The total amount of loans still owed
  • The amount spent on credit cards

    • What does regression analysis help determine?

  • The probability of an event occurring
  • The average value of the dependent variable
  • The standard deviation of the independent variable
  • The relationship between dependent and independent variables (correct)

    • Which of the following is NOT a benefit of regression analysis?

    <p>Determining the average value of the dependent variable</p> Signup and view all the answers

    What does the dependent variable represent in regression analysis?

    <p>The variable that is predicted or explained by the independent variables</p> Signup and view all the answers

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