A researcher is studying the relationship between 10 different variables and a critical measure of business performance. What method can be used to select the best set of variables to predict performance?
A)Stepwise regression
B)ANOVA
C)Simple linear regression
D)Residual analysis

Question

Quizplus · Accepted Answer

Stepwise regression is a statistical method that can be used to select a subset of variables that are most strongly related to a dependent variable, in this case business performance. It works by iteratively adding or removing variables from a model based on their contribution to its predictive power. This method is particularly useful in situations where there are many potential predictor variables and it is unclear which ones are most important. ANOVA, simple linear regression, and residual analysis are all useful statistical techniques in their own right, but they are not specifically designed for variable selection.

A Researcher Is Studying the Relationship Between 10 Different Variables