Sales Comparison Using Regression Analysis
7 important questions on Sales Comparison Using Regression Analysis
What are the two strengths of a regression analysis
(2) It can be used to explain value as well as to estimate it
What is A Scatter Diagram
What kind of independent variables could be used for the regression analysis
- The number of bathrooms
- Garage size
- Lot size
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What is the meaning of r2 in multiple regression analysis
What are the three potential errors of a simple regression analysis?
(2) finding spurious relationship
(3) unwarranted extrapolation and trending
What is the definition of multicollinearity as an error in the regression analysis?
What are the three indicators for a missing independent variable
(1) a low r2
(2) "suprising" coefficients for the variables that are in the equation
(3) identifiable patterns in the regression residuals
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