Regression Project: Objectives
Regression analysis is an important statistical modeling tool for estimating the relationships among variables. Regression analysis helps us understand how the value of a dependent variable changes when the value of an independent variable varies. The goal is to construct a function whose inputs are the values of the independent variable and whose outputs are the values of the dependent variable; such a function is called the regression function, which can be used to model the data. Specifically, this model can then be used to predict the values of the dependent variable given the values of the independent variable that have not been observed.
In this project, you will
constructing a regression functions for a given data sets;
using the regression function to create mathematical models;
interpret various aspects of the models;
use the models to predict values at missing data points;
analyze whether this prediction can be trusted.
The project consists of four parts: Price, Cost, Revenue, and Profit. Each part must be written up as a separate section of a single document. The completed project must be uploaded to Canvas as a single pdf report. Click Next to progress through the module. You are able to upload your submission on the last page.