Regression analysis is:
A) a psychoanalytical tool, often called "regression toward the mean," used by economists to estimate consumer reactions.
B) always preferable to consumer interviews or market experiments.
C) usually done with a pencil and paper.
D) a statistical technique that describes how one variable is related to another.
E) almost never used in practice because of concerns about alienating a firm's customers.

Question

Quizplus · Accepted Answer

Regression analysis is a statistical technique used to analyze the relationship between two or more variables. It helps in predicting the value of a dependent variable based on the value of one or more independent variables. It is widely used in marketing research to identify the factors that influence consumer behavior and to estimate the impact of marketing activities on sales.

Regression Analysis Is